Ec 2015 3 1

BUSINESS I ADMINISTRARE. MANAGEMENT / BUSINESS AND ADMINISTRATION.
MANAGEMENT
COLEGIUL DE REDACIE:
Prof. univ. dr. hab. Ion BOLUN, Academia de Studii Economice a Moldovei
Prof. univ. dr. hab. Vasile BUCUR, Academia de Studii Economice a Moldovei
Prof. dr. Piotr BULA, Academia de Economie din Kracowia, Polonia
Prof. univ. dr. hab. Eugenia FEURA, Academia de Studii Economice a Moldovei
Prof. dr. hab. Iurii MACAGON, Universitatea Naional, Ucraina
Prof. univ. dr. hab. Vitalii MACAROV, Academia de tiine, Rusia
Prof. univ. dr., acad. Anatolie MAZARACHI, Universitatea Naional de Comer i Economie din Kiev, Ucraina
Prof. univ. dr. hab. acad. Gheorghe MICOI, Academia de tiine a Moldovei, gmiscoi@asm.md
Prof. univ. dr. hab. m.c. al AM, Dumitru MOLDOVAN, Academia de Studii Economice a Moldovei
Prof. univ. dr. Ion PETRESCU, Universitatea Spiru Haret, Braov, Romnia
Prof. dr. Alban RICHARD, Universitatea Pierre Mends France de Grenoble, Frana
Prof. dr. Agop SARKISYAN, Academia de Economie Dm. enov din Svitov, Bulgaria
Prof. univ. dr. Ioan-Franc N. VALERIU, Institutul de Cercetri Economice al Academiei Romne
Prof. univ. dr. Gheorghe ZAMAN, m.c. al Academiei Romne, Institutul de Economie Naional
Prof. univ. dr. hab. Rodica HNCU, Academia de Studii Economice a Moldovei
Prof. univ. dr. Oleg STRATULAT, Academia de Studii Economice a Moldovei
Conf. cercet. dr.Corneliu GUU, Academia de Studii Economice a Moldovei
Conf. univ. dr. Nadejda BOTNARI, Academia de Studii Economice a Moldovei
Conf. univ. dr. Oxana SAVCIUC, Academia de Studii Economice a Moldovei
Conf. univ. dr. Liubomir SCORIC, Universitatea de Comer, Economie i Cooperaie de Consum, Gomel, Belarus
ECHIPA REDACIONAL:
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Index potal: PM-31627
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Revista / Journal ECONOMICA nr. 3 (93) 2015
BUSINESS I ADMINISTRARE. MANAGEMENT / BUSINESS AND ADMINISTRATION. MANAGEMENT
ACADEMY OF ECONOMIC STUDIES OF MOLDOVA
ECONOMICA
Scientific and didactic journal
Year XXIII, nr.3 (93), September 2015
Editorial-Polygraphic Department of ASEM
EDITORIAL BOARD:
Professor Dr. Hab. Ion BOLUN, Academy of Economic Studies of Moldova
Professor Dr. Hab. Vasile BUCUR, Academy of Economic Studies of Moldova
Professor PhD Piotr BULA, Krakow Academy of Economy, Poland
Professor Dr. Hab. Eugenia FEURAS, Academy of Economic Studies of Moldova
Professor Dr. Hab. Iurii MACAGON, National University, Ukraine
Professor Dr. Hab. Vitalii MACAROV, Academy of Science, Russia
Professor PhD Acad. Anatolie MAZARACHI, Kyiv State University of Commerce and Economics, Ukraine
Professor Dr. Hab. Acad. Gheorghe MISCOI, Academy of Science of Moldova
Professor Dr. Hab. c.m. of ASM Dumitru MOLDOVAN, Academy of Economic Studies of Moldova
Professor PhD Ion PETRESCU, Spiru Haret University, Brasov, Romania
Professor PhD Alban RICHARD, Pierre Mends France de Grenoble University, France
Professor PhD Agop SARKISYAN, D. Tsenov Academy of Economics, Svishtov, Bulgaria
Professor PhD Ioan-Franc N. VALERIU, National Institute of Economic Research of Romanian Academy
Professor PhD Gheorghe ZAMAN, c. m. of Romanian Academy, Institute of National Economy
Professor Dr. Hab. Rodica HINCU, Academy of Economic Studies of Moldova
Professor PhD Oleg STRATULAT, Academy of Economic Studies of Moldova
Assoc.Professor Researcher PhD Corneliu GUTSU, Academy of Economic Studies of Moldova
Assoc.Professor PhD Nadejda BOTNARI, Academy of Economic Studies of Moldova
Assoc.Professor PhD Oxana SAVCIUC, Academy of Economic Studies of Moldova
Assoc.Professor PhD Liubomir SCORIC, Belarusian Trade-Economic University of Consumers Cooperation, Gomel, Belarus
EDITORIAL STAFF:
Editor-in-chief: Grigore BELOSTECINIC,
Professor, Dr. Hab., Academician

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The journal is accredited by the National Certification
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The journal is indexed in the following international data base:
http://oaji.net/journal-detail.html?number=1425
URL: http://oaji.net/journal-detail.html?number=1425
Registration certificate nr.270 of 31.10.2013
Postcode: PM-31627
ISSN 1810-9136
Publishing department ASEM, Chisinau-2015
The editorial is not responsible for the content of the published articles
SUMAR
BUSINESS I ADMINISTRARE. MANAGEMENT
Dezvoltarea strategic a pieei cerealelor n baza abordrii de marketing
Prof. univ., dr. hab. Sergiu Petrovici, UCCM
Drd., lect. sup. univ. Sergiu Mrza, UASM
Modelarea relaiilor dintre competitivitate i capitalul uman
Dr. asist. univ. Alina Suslenco, Universitatea Alecu Russo din Bli
nvmntul profesional tehnic din Republica Moldova bazat pe instituionalizarea
mecanismelor de interaciune dintre sistemul educaional i economic
Drd. Veronica Midari, ASEM
Dezvoltarea calitii serviciilor turistice n condiii de globalizare a turismului
Drd. ASEM, Irina Roitman, Director al Ageniei turistice Racurs-Tur
7
14
21
30
ECONOMIE FUNDAMENTAL I APLICATIV

Influena mecanismului de formare a preurilor asupra performanelor ntreprinderii
Dr., conf. univ. interimar Silvia Zaharco, UASM
40
FINANE, CONTABILITATE I ANALIZA FINANCIAR

Evaluarea performanei financiare a ntreprinderilor industriale prin prisma dimensiunilor
49
de profitabilitate, rentabilitate i cretere
Conf. univ., dr. Nadejda Botnari, ASEM,
Drd. ASEM, Ana Nedelcu, lect. USCH B. P. Hasdeu
Aplicarea taxelor pentru utilizarea resurselor biologice n Republica Moldova i
60
recomandri de reformare a acestora
Conf. univ. dr. Petru Bacal, ASEM
69
Accepiuni ale conceptului de risc n activitatea de antreprenoriat
Conf. univ. dr. Neli Muntean, ASEM,
Dr. Iulian Muntean, UASM
INTEGRAREA EUROPEAN I POLITICI SOCIALE
Atitudinea trstur caracterial important n obinerea performanelor
Dr. Iulian Muntean, UASM,
Lect. univ. Diana Ciobanu, ASEM,
Natalia Vhocenco, prof. de arte plastice, gr. did. I, .A.P. A. ciusev
Sustenabilitatea balanei de pli a Republicii Moldova
Drd, ASEM, Marina Soloviova
ef de secie, Direcia Balana de pli, Banca Naional a Moldovei
80
85
INFORMATIC
Aspecte statistice privind costul unitar al forei de munc
Drd. Olga Pani, ASEM
94
Estimarea eficienei cheltuielilor cu educaia teriar n rile UE

Drd. Raluca-Mariana Drgoescu, ASE Bucureti
Drd. Ioana-Maria Bucerzan (Precup), ASE Bucureti
Drd. Ramona Bere (Silvestru), ASE Bucureti
100
CONTENT
BUSINESS AND ADMINISTRATION. MANAGEMENT
Strategic development of the cereals market based on marketing approach
Professor, PhD Sergiu Petrovici, UCCM
Senior lect., PhD student Sergiu Mirza, SAUM
Modeling the relationship between competitiveness and human capital
Assist. lect., PhD Alina Suslenco Alecu Russo State University of Balti
Vocational education system in the Republic of Moldova based on institutionalization of
interaction mechanism between education and economic systems
PhD student Veronica Midari, ASEM
Development of the tourism service quality under tourism globalization
PhD student ASEM, Irina Roitman, Director of Tourism Agency Racurs-Tur
7
14
21
30
FUNDAMENTAL AND APPLIED ECONOMICS

The influence of price formation mechanism on enterprises performances
Assoc. Prof., PhD Silvia Zaharco, SAUM
40
FINANE, ACOOUNTING AND FINANCIAL ANALYSIS

Financial performance evaluation of industrial enterprises in terms of profitability, return
and growth dimensions
49
Assoc. Prof., PhD Nadejda Botnari, ASEM
PhD student ASEM, Ana Nedelcu, lecturer CSU B.P. Hasdeu
Application of taxes for use of biological resources in Moldova
and recommendations for its reforming
60
Assoc. Prof. PhD Petru Bacal, ASEM
Concepts of risk in entrepreneurial activity
69
Assoc. Prof., PhD Neli Muntean, ASEM
PhD Iulian Muntean, SAUM
EUROPEAN INTEGRATION AND SOCIAL POLICIES
Attitude important character traits in obtaining performance
PhD Iulian Muntean, SAUM
Lecturer Diana Ciobanu, ASEM
Teacher of arts Natalia Vihocenco, A. Sciusev School of Arts
Balance of payments sustainability: evidence from the Republic of Moldova
PhD student Marina Soloviova, ASEM
Head of section, Balance of Payments Division, National Bank of Moldova
80
85
INFORMATICS
Statistical issues in the concept of unit labour costs
PhD student Olga Panis, ASEM
Estimating the efficiency of tertiary education expenditure in EU countries
PhD student Raluca-Mariana Dragoescu, Bucharest University of Economic Studies
PhD student Ioan-Maria Bucerzan (Precup), Bucharest University of Economic Studies
PhD student Ramona BERE (Silvestru), Bucharest University of Economic Studies
94
100
DEZVOLTAREA STRATEGIC A STRATEGIC DEVELOPMENT OF

PIEEI CEREALELOR N BAZA THE CEREALS MARKET BASED
ABORDRII DE MARKETING
ON MARKETING APPROACH
Prof. univ., dr. hab. Sergiu PETROVICI, UCCM
Drd., lect. sup. univ. Sergiu MRZA, UASM
Professor, PhD Sergiu PETROVICI, UCCM

Senior lect., PhD student Sergiu MIRZA, SAUM
n lucrare, sunt elucidate specificul cercetrii

pieei cerealelor i conceptul dezvoltrii strategice a
pieei cerealelor n baza abordrii de marketing. O
deosebit atenie este acordat problemei evalurii
potenialului de marketing ca mijloc de descoperire a
avantajelor i dezavantajelor concureniale n
dezvoltarea ramurii cerealelor din republic. Pentru o
mai mare claritate, autorii au formulat direciile de
perfecionare a mecanismului pieei cerealelor din
Republica Moldova.
Cuvinte-cheie: piaa cerealelor, dezvoltarea
strategic, marketing mix, potenialul de marketing.
JEL: M10, M31
This paper considers the specifics of the

cereals market research and the concept of the
strategic development of the cereals market based on
marketing approach. Special attention is paid to the
evaluation of the marketing potential as a means of
finding out the advantages and disadvantages of
competitiveness regarding the development of the
cereals sector in the country. For greater clarity
authors formulated the main improvable directions of
the cereals market mechanism in the Republic of
Moldova.
Key words: cereals market, strategic
development, marketing mix, marketing potential.
JEL: M10, M31
Introducere. Actualmente, organizaiile i

ntreprinderile agricole, care se gsesc n mediul
concurenial, trebuie s elaboreze strategii de
dezvoltare a activitilor sale, pornind de la
posibilitile proprii, reacionnd operativ la
schimbrile conjuncturii pieei n baza utilizrii
abordrilor de marketing. ntreprinderile i
organizaiile agricole cunosc, din experiena proprie,
multe dificulti cu caracter intern i extern n
elaborarea i realizarea strategiilor de dezvoltare a
propriilor activiti i, de aceea, este inevitabil s se
ocupe cu activiti de marketing ce in de studierea
necesitilor consumatorilor i adaptarea producerii
cerealelor la cerinele pieei. n acest aspect,
problemele elaborrii i realizrii strategiei de
dezvoltare a pieei cerealelor n baza intensificrii
activitii de marketing sunt actuale.
1. Analiza particularitilor cercetrii pieei
cerealelor
Specificul cercetrii pieei cerealelor const n
faptul c sectorul cerealier este unul din principalele
compartimente ale agriculturii, care asigur o temelie
deosebit pentru depirea constrngerilor cu care se
confrunt agricultura n dezvoltare. Menionm c
acest sector descoper o cale de depire a srciei
pentru populaia din zona rural i o modalitate de
asigurare a securitii alimentare naionale.
O particularitate important a gospodriilor
cerealiere const n faptul c indicatorii economici ai
acestora sunt mai mici fa de alte entiti economice ale
complexului agroindustrial, iar lucrrile cer un volum
mare de munc i consum colosal de energie electric i
termic. Totodat, aceste gospodrii cerealiere sunt mai
receptive la noutile progresului tehnico-tiinific i mai
Introduction. Currently, the organizations

and agricultural companies that are in a competitive
environment must elaborate development strategies of
their activities proceeding from own possibilities,
responding promptly to changes in market conjuncture
using marketing approaches. Businesses and
agricultural organizations know from their experience
many internal and external difficulties in developing
and implementing strategies for the development of
activities; and therefore it is inevitable that they deal
with marketing activities related to studying
consumers needs and adapting production of cereals at
the market requirements. In this aspect, development
and implementation problems of cereals market
development strategy based on intensive marketing
activity are current on the agenda.
1. Peculiarities analysis of the cereals
market research
The specific feature of the cereals market
research lies in the fact that the cereals sector is one of
the main sectors of agriculture which provides a great
foundation for overcoming the constraints faced by
developing agriculture. We have to notice that this
sector finds a way of overcoming poverty for the rural
population and a way to ensure national food security.
An important specific feature of the cereals
companies consists in the fact that their economic
indicators are lower compared to other economic
entities of the agro industrial complex, at the same time
these specific activities demand a high workload and
colossal consumption of electricity and heat. However,
these households are more responsive to technical
scientific progress news, and are more attractive for
atractive n domeniul atragerii investiiilor, n comparaie

cu ali ageni economici din agricultur.
n viziunea autorilor, lipsa unei concepii de
dezvoltare strategic a pieei cerealelor n baza
abordrii de marketing poate aduce la consecine
negative, din motivul c msurile economice i
organizatorice de sprijin al productorilor de cereale
comport caracter de o singur dat i nu cuprind toate
aspectele funcionrii ramurii cerealelor. Pstrarea
tendinelor negative n ramura cerealelor, care se
exprim prin degradarea tehnic i tehnologic,
precum i prin criza culturii de semine selecionate i
infrastructura slab dezvoltat a pieei pot aduce la
consecine nefavorabile n economie.
Conceptul dezvoltrii strategice a pieei
cerealelor n baza intensificrii activitii de marketing
se bazeaz pe analiza i evaluarea cererii n
perspectiv la produsele cerealiere, precum i pe
sporirea eficienei funcionrii pieei cerealelor. n
evaluarea cererii de produse cerealiere, un loc deosebit
i aparine determinrii avantajelor concureniale ale
produciei cerealiere la diferite niveluri i cutrii
posibilitilor de depistare a ameninrilor ce reduc
competitivitatea ramurii cerealelor.
Analiza factorilor de influen, care determin
avantajele concureniale ale ramurii cerealelor, pe
piaa intern i extern, a republicii indic faptul c
cererea la produsele alimentare fabricate din producia
de cereale (pinea i produsele de panificaie, laptele
i produsele lactate, carnea i produsele din carne, ou
etc.) va crete n continuu. Aceasta se explic prin
faptul c populaia care triete dup linia de srcie
are necesitate de mai multe produse alimentare, avnd
aceleai terenuri de pmnt.
Actualmente, n republic, se observ o cerere
redus de consum al produselor alimentare fabricate
din producia de cereale, din motivul scderii
capacitii de cumprare a populaiei. n perspectiv,
datorit creterii veniturilor populaiei, va spori
consumul produselor alimentare din carne i lapte,
ceea ce va duce la majorarea cererii de cereale pentru
furaj. Concomitent, vor fi luai n considerare factorii
principali pentru asigurarea securitii alimentare
naionale: producerea cerealelor suficiente pentru a
asigura autoaprovizionarea alimentar
naional;
realizarea pinii sociale la un pre sczut, accesibil
consumatorilor din republic.
Procesul de autoaprovizionare cu cereale i de
asigurare a securitii alimentare va fi monitorizat de
Guvern, care va continua s urmeze o politic de
autoaprovizionare cu cereale i acesta reiese din
importana cerealelor n asigurarea securitii alimentare.
Analiznd evoluia structurii produciei
agricole, putem meniona c importana cerealelor este
n cretere, deoarece sectorul zootehnic este n cretere
cu 2,6 puncte procentuale, n anul 2014, fa de anul
2006, tiind c majoritatea nutreurilor n sectorul
zootehnic sunt cerealele.
8
investments in comparison with other economic

companies from agricultural sector.
In the view of the authors, the lack of a
strategic development concept of the cereals market
based on marketing approach can lead to negative
consequences for the reason that economic and
organizational measures to support the cereals
producers are bear character once and do not cover all
aspects of the cereals sector functioning. Keeping
negative trends in cereals sector, which expresses itself
through technical and technological degradation, as
well as the crisis of the selected crop seeds market and
poor infrastructure, can bring adverse consequences to
the economy.
The concept of strategic development of the
cereals market under intensified marketing activity is
based on analysing and assessing the demand in future
for cereals products, as well as increasing the
efficiency of the cereals market functioning. A special
interest in assessing demand process for cereals
products is to determining the competitive advantage of
cereal production at various levels and searching
possibilities to found out the threats that reduce cereal
sector competitiveness.
When analysing the factors of influence that
determine the competitive advantages of cereals
sector on domestic and foreign markets of the
country it is to be shown that the demand for food
products based on cereal production (bread and
bakery products, milk and dairy products, meat and
meat products, eggs, etc.) will increase continuously.
This is explained by the fact that the population
living below poverty line need more food products
having the same land plots.
Currently in the country there is a reduced
demand for food products manufactured of cereals
production as a result of decreasing in purchasing
power of the population. In the future, due to
increasing household incomes, the food products of
meat and milk consumption will increase that will lead
to the enlargement of feed cereals demand.
Simultaneously ate taken into consideration key factors
for ensuring national food security: the production of
cereals sufficient to ensure national food; achieving
social bread at a low price affordable for consumers in
the country.
The cereal self-sufficiency and food security
ensuring process will be monitored by the Government,
which will continue to pursue a policy of cereals selfsufficiency, which turns from the importance of cereals
in ensuring food security.
Analysing the evolution of agricultural
production structure we could mention that the
importance of cereals is growing, considering the
following fact: the zoo technics sector is growing by
2.6 percentage points in 2014 compared with 2006
year, knowing that most of the forage in zoo technic
sector are cereals.
2. Conceptul dezvoltrii strategice ale pieei

cerealelor
Autorii constat c ideea principal a Concepiei
dezvoltrii strategice a pieei cerealelor const n mbinarea
eficient a instrumentelor activitii de marketing, prin
pstrarea rolului primordial al Statului n reglementarea
ramurii cerealelor i intensificarea procesului de autoreglementare a pieei pentru a crea condiii favorabile de
funcionare eficient a ramurii cerealelor. Concepia const
n sprijinul prioritar, din partea Statului, acordat ramurii
cerealelor i n reglementarea pieei cerealelor. Aceast
Concepie este orientat spre: utilizarea raional a produciei
de cereale; crearea rezervelor n volume necesare n forme
de stocuri i fonduri de rezerv; dezvoltarea legturilor
internaionale i mai ales interregionale i formarea
resurselor de cereale pentru export; sporirea calitii i
competitivitii produciei de cereale cu cheltuieli minime
n sfera produciei i comerului; asigurarea securitii
alimentare naionale; sporirea nivelului de trai al populaiei.
Este important asigurarea producerii cerealelor i
produselor prelucrate din acestea, ntr-o aa cantitate,
sortiment i calitate, care va permite satisfacerea cererii n
produse cerealiere, furaj, semine, crearea rezervelor de stat
i pentru export cu cheltuieli minimale, adaptndu-se la
cerinele pieei. Aceasta presupune realizarea problemelor
ce in de majorarea Fondului de subvenionare a
agricultorilor pn la 1,2 miliarde de lei, fa de 600
milioane lei, n prezent, pentru perfecionarea bazei
normative i juridice, care va determina un set de msuri
organizaionale i juridice ale Statului; efectuarea
cercetrilor de pia pentru stabilirea ofertei de producere
care va acoperi cererea intern i extern pe piaa
cerealelor; crearea unei infrastructuri dezvoltate a ramurii
cerealelor, care va asigura distribuia i pstrarea n
depozite a resurselor de cereale; perfecionarea
mecanismului reglementrii pieei cerealelor care va
asigura dezvoltarea eficient a acesteia n baza principiilor
marketingului; utilizarea proiectelor de reglementare a
ramurii cerealelor i realizare a Strategiei de dezvoltare a
pieei cerealelor pn n anul 2020.
Pentru
elaborarea
mecanismului
de
reglementare a pieei cerealelor, este necesar
alctuirea unui model optimal
al gospodriei
cerealiere, n corespundere cu concepia dezvoltrii
pieei n perspectiv. Acest model va cuprinde
totalitatea parametrilor ntocmii sub influena
factorilor naturali, economici, tehnici i tehnologici,
precum i sub influena activitilor structurilor
economico-organizatorice reglementate de Stat.
Lund n considerare importana sectorului
cerealier ca o cale de depire a srciei pentru
populaie, un generator de valut i modalitate de
asigurare a securitii alimentare naionale e necesar
ca entitile agricole s acorde o atenie prioritar
cercetrilor de pia ca instrument de dezvoltare a
ramurii cerealelor. n acest aspect, sunt necesare
elaborarea i realizarea unui Program de aciuni pentru
dezvoltarea producerii i funcionrii pieei cerealelor,
2. The concept of strategic development of the

cereals market
The authors concluded that the main idea of the
strategic development concept of the cereals market
consist in combining effective tools of the marketing
activity by keeping the vital role of the State in
regulating cereals sector, as well as intensification of
the self-market regulation to create favourable
conditions for the effective functioning of the cereals
sector. This concept describes the priority support to
the cereals sector and cereals market regulation
provided by the State. Also, the concept is oriented to:
the rational use of cereals production; creating the
necessary volume of reserves in the form of stocks and
reserve funds; especially developing international links
and inter-regional cereals resources and training for
export; enhancing the quality and competitiveness of
cereals production - with minimal costs in the
production area and trade; ensuring the national food
security; increasing the living standard of the
population.
It is important to ensure the production of
cereals and processed products thereof in such a
quantity, assortment and quality that will allow
meeting the demand in cereals products, fodder, seeds,
establishing of state reserves and for export with
minimal costs, adapting to the market requirements. It
involves to develop issues related to increasing the
Fund for subsidizing farmers up to 1.2 billion MDL
compared to 600 million MDL at the moment; to
improve normative and legal base, which will
determine a set of organizational and legal measures of
the State; conducting market research to determine the
offer production that will cover domestic and external
demand on the cereals market; creating a developed
infrastructure of the cereals sector, which will provide
distribution and warehouse storage of cereals
resources; improvement of cereals market regulation
mechanism that will ensure its effective development
based on the principles of marketing; using the
regulatory cereals sector projects and achieving the
Development strategy of the cereals market until 2020
year.
In order to develop the regulatory mechanism
of the cereals market is necessary to elaborate an
optimal model of the cereal household in accordance
with the concept of market development in perspective.
This model will include all the parameters drawn up
under the influence of natural factors, economic,
technical and technological, as well as under the
influence of the economic organized structures
activities regulated by the state.
Considering the importance of the cereals
sector as a way of overcoming poverty of the
population, as well as a generator of foreign currency
and means to ensure national food security is necessary
that the agricultural entities are required to pay priority
attention to market research as a tool for cereals market
care va prevedea msuri complexe de reglementare a

fenomenelor de pia viznd producerea i realizarea
cerealelor n baza abordrii de marketing.
O direcie important de influen a Statului asupra
dezvoltrii pieei cerealelor const n crearea climatului
favorabil investiional n baza impunerii impozitelor
prefereniale, acordrii granturilor investitorilor i ocrotirii
agenilor economici prin acte legislative.
Un rol important l joac autoorganizarea
participanilor pieei prin crearea asociaiilor
productorilor i vnztorilor de cereale, ceea ce va
stimula coordonarea aciunilor agenilor economici n
elaborarea politicilor unice n domeniul preurilor i
distribuiei, ieirea comun pe pieele internaionale i
interrepublicane, prezentarea intereselor economice n
structurile Statului i n formarea politicii de preuri.
n scopul sporirii competitivitii i eficienei
producerii cerealelor, e raional de desfurat livrrile
tehnice agricole n form de leasing, orientate spre
reducerea preurilor n baza achiziionrii loturilor
mari prin organizarea comerului angro i
subvenionrii tarifelor de plat n procente.
Reglementarea pieei cerealelor de ctre Stat trebuie
s prevad o abordare difereniat n rezolvarea problemei la
diverse niveluri: republican i raional. Astfel, la nivel
republican, sunt necesare elaborarea i realizarea Strategiei
de dezvoltare a ramurii cerealelor n baza abordrii de
marketing, asigurarea crerii resurselor necesare pentru
perfecionarea structurii organizatorice i amplasarea
raional a sistemului de producere a cerealelor, evidenierea
direciilor principale de dezvoltare a strategiilor de pre,
financiare, creditare, impozitare i de export.
Pe de alt parte, la nivel raional, reglementarea
pieei cerealelor trebuie s se bazeze pe suportul
legislativ unic elaborat la nivel republican, dar e
necesar prevederea posibilitii unor corectri n
funcie de specificul dezvoltrii economice raionale la
Nordul, Centrul i Sudul republicii.
Specificul funcionrii ramurii cerealelor las urme
n utilizarea elementelor marketingului mix din motivul c
evaluarea cantitativ a unor elemente nu se supune
msurrilor i este complicat de stabilit. De aceea,
evaluarea potenialului de marketing va fi efectuat pentru
acele elemente ale marketingului mix care influeneaz
esenial nivelul de dezvoltare a pieei cerealelor.
3. Viziunea proprie a autorilor
Autorii propun ca evaluarea potenialului de
marketing s fie efectuat n baza aplicrii metodei de
comparare a indicatorilor, bazat pe calculul indicelui
complex, reieind din datele statistice. n legtur cu faptul
c indicatorii sunt msurai n diferite uniti, e necesar ca
fiecrui indice s-i fie atribuit o cot-parte, iar dup aceasta
s fie calculat indicele complex (general). Metodica
evalurii potenialului de marketing conine urmtoarele
etape: alegerea indicatorilor a cror valoare este condiionat
de evaluarea cantitativ a potenialului de marketing;
calculul indicilor comparabili pentru a fi adui n form
comparabil ntr-o anumit perioad de timp; calculul
10
development. Considering this aspect, it is necessary to

develop and implement an Action plan program for the
development of production and functioning of the
cereals market, which will provide complex measures
for regulating market issues regarding cereals
production and realization based on marketing
approach.
An important direction of state influence on
the development of the cereals market is creating a
favourable investment climate based on preferential
taxes, investor funding program and protection of
economic agents through legislation.
An important role is played by selforganization of market participants by creating
associations of producers and sellers of cereals, which
will encourage the economic subjects to take
coordinative actions regarding unique pricing and
distribution policies, common steps on international
and inter republican markets, presenting economic
interests within the state bodies and structures on
pricing and policy formation.
In order to increase competitiveness and
efficiency of cereals production is rational to held
agricultural technical supplies in the form of leasing,
aimed at reducing the purchase price based on
organizing large lots and subsidizing tariffs wholesale
payment percentage.
Cereals market regulation by the State must
provide a differentiated approach in solving the
problem at various levels: at republican and district
levels. Thus, at the national level it is necessary to
develop and implement the development strategy of the
cereals sector based on marketing approach, to ensure
the provision of necessary resources to improve
organizational structure and location rational system
for the production of cereals, to highlight the main
directions of price, financial, credit, tax and export
development strategies.
On the other hand, at the district level, cereals
market regulation must be based on single legislative
support worked at the national level, but it is necessary
to foresee the possibility of corrections depending on
the specific economic development district to the north,
central and southern regions.
Specifics of cereals sector operation leaves
traces in the use of marketing mix elements on the
ground that the quantitative assessment of factors is not
measurable and it is complicated to be set. Therefore,
evaluation of the marketing potential will be conducted
on those elements of marketing mix which essentially
influence the development of the cereals market.
3. Author's own vision
The authors proposed that the marketing
potential assessment could be carried out on the basis
of applying the method of comparison of indicators
based on complex index calculation, based on
statistical data. Due to the fact that the indicators are
measured in different units, it is necessary that each
indicelui complex sau general dup formula mediei

aritmetice a sumei tuturor indicilor; calculul ponderii
(importanei) fiecrui productor sau raion dup valoarea
cea mai nalt a indicelui general sau complex.
n calitate de indici pentru evaluarea
potenialului de marketing, la ntreprinderile de
producere i comercializare a cerealelor, pot fi alei:
cheltuielile de munc pentru producerea cerealelor,
volumul salariului pentru producerea cerealelor,
productivitatea cerealelor la 1 hectar, rentabilitatea
realizrii cerealelor, procentul de producie-marf a
cerealelor. Aceti indicatori sunt uor de calculat n
baza datelor statistice i ei caracterizeaz elementele
complexului marketingului mix: rentabilitatea reflect
preul,
producia-marf
reflect
distribuia,
productivitatea muncii i salariul reflect produsul.
Totodat, indicatorii calculai n diferite uniti
de msur sunt orientai mai mult spre productor. De
aceea, este important efectuarea unor cercetri de
marketing n baza chestionrii specialitilor i
conductorilor entitilor economice agricole, care, n
activitatea lor, se ocup i cu producerea cerealelor.
Sub acest aspect, e raional de evaluat potenialul de
marketing pentru acele elemente care influeneaz esenial
nivelul de dezvoltare al pieei cerealelor.
Conductorii de entiti economice agricole au
fost rugai s indice cum s-ar putea nltura
obstacolele n dezvoltarea pieei cerealelor, al cror
rspuns s-a repartizat n felul urmtor: Trecerea la
relaiile marketingului direct fr intermediari
dezavantajoi (locul 1); Perfecionarea sistemului de
asigurare cu informaii despre conjunctura pieei
cerealelor (locul 2); mbuntirea asigurrii cu
informaii despre concureni pe piaa cerealelor (locul
3); Asigurarea cu mijloace de comunicare i
promovare (locul 4); Asigurarea cu tehnologii de
marketing moderne i calculatoare (locul 5);
Perfecionarea mecanismului de motivare (stimulare)
a specialitilor de marketing i logistic (locul 6).
Analiznd politica de marketing (produs, pre,
distribuie i promovare) n entitile economice agricole
productoare de cereale, s-a stabilit c luarea deciziilor
privind cultivarea culturilor cerealiere are loc lundu-se n
considerare dezvoltarea tehnologiilor agrotehnice i anume
folosirea asolamentului. Preul la cereale este stabilit n
ntreprinderile agricole n funcie de cerere, dar este ateptat
momentul cnd survine deficitul la aceast producie.
Costurile ntreprinderilor agricole legate de producerea
cerealelor depind de productivitatea cerealelor.
Productivitatea cerealelor influeneaz i preul de realizarea,
care, n anii cu productivitate nalt, duc la micorarea
preului, iar n anii cnd recolta este sczut preurile se
mresc. Cu toate c majoritatea ntreprinderilor au menionat
c folosesc metoda de stabilire a preului n funcie de cerere,
observm c aceast cerere o constituie, de fapt,
intermediarii care achiziioneaz cerealele de la 98% din
ntreprinderile intervievate. Majoritatea ntreprinderilor
dispun de depozite pentru pstrarea cerealelor, dar aceste
index has a quota, and after this the index will be

calculated in complex (generally). Marketing potential
evaluation method comprises the following steps:
choosing indicators whose value is linked to the
quantitative assessment of the potential for marketing;
calculation of comparable indices to be brought in
comparable form in a certain period of time; complex
or general index calculation formula as the arithmetic
average of the sum of all indices; calculation of the
weight (importance) of each producer or district where
the highest value of the general or complex index.
As indices for assessing the potential for
marketing to businesses manufacturing and marketing
of cereals can be chosen: the costs of labour for the
production of cereals, total wages for cereals
production, productivity of cereals from 1 hectare,
profitability completion cereals, the percentage of
production-freight cereals. These indicators are easily
calculated based on statistics and they characterize
complex marketing mix elements: profitability reflects
the price reflects the distribution of commodity
production, labour productivity and wages reflect the
product.
Also, indicators calculated in different units
are oriented more towards producer. It is therefore
important to perform marketing interviews of the
professionals and leaders under questioning
agricultural economic entities, which deals with cereals
production.
At this moment, it is necessary to evaluate the
marketing potential for essential elements that
influence the development of the cereals market.
Leaders of economic farming entities were
asked to indicate how they might tackle bottlenecks in
the development of the cereals market, the answer to
which was allocated as follows: Switching direct
marketing
relations
without
intermediaries
disadvantage (1st place); Improving the information
provision about cereals market (2nd place); Improving
ensure information about competitors in the cereals
market (3rd place); Providing means of communication
and promotion (4th place); Providing modern
marketing and computers technology (5th place);
Improving the mechanism motivation (incentive)
marketing and logistics specialists (6th place).
Political analysis of marketing (product, price,
distribution and promotion) in cereals-producing
agricultural economic entities was established that
decisions on planting cereal crops occurs taking into
account the development of agro technologies, namely the
use of crop rotation. The price of cereals is established
agricultural enterprises depending on the application, but
is expected deficit this time when production occurs.
Costs related agricultural businesses depend on the
productivity of cereal cereals production. Cereals
productivity influenced the selling price that during years
with high productivity leads to decreasing in price, and
during years when the harvest is low prices increase.
11
depozite nu sunt suficiente, deoarece, ncepnd cu luna

septembrie, ncepe recoltarea florii-soarelui i a porumbului,
care, de asemenea, necesit depozitare pentru condiionare.
Astfel, pn n aceast perioad, ntreprinderile sunt nevoite
s realizeze cerealele de toamn la un pre neconvenabil.
ntreprinderile agricole ar obine un pre mai mare la cereale,
dac ar avea linii de prelucrare, dar, conform chestionrii
efectuate, 98% dintre ntreprinderi nu dispun de asemenea
linii. Legat de promovarea cerealelor ntreprinderile
chestionate, au relatat c folosesc aceast activitate de
marketing, n proporie de 61%, iar cele mai populare
activiti promoionale le constituie promovarea vnzrilor,
dup care urmeaz publicitatea n ziarele i televiziunile
locale i republicane.
Cercetrile pieei cerealelor indic faptul c
infrastructura existent a pieei nu contribuie la
dezvoltarea produciei agricole, dar creeaz condiii
favorabile pentru dezvoltarea economiei tenebre.
Motivele care mpiedic dezvoltarea infrastructurii
pieei sunt: lipsa unei politici eficiente a statului,
insuficiena mijloacelor financiare pentru refacerea
structurilor
economice
n
agricultur
i
prentmpinarea dezvoltrii pieei tenebre.
n perioada de tranziie la economia de pia,
sistemul perimat de colectri i de distribuie a
produciei agricole a disprut, iar cea nou nu
corespunde cu relaiile de pia, practic, lipsete.
Dezvoltarea ineficient a infrastructurii pieei nu
permite agenilor economici s mobilizeze deplin
resursele de materie prim i produse alimentare n
regiunile de producere a cerealelor i s efectueze
achiziiile pentru necesitatea Statului.
Concluzii. n baza efecturii cercetrilor de
pia a cerealelor i evidenierii motivelor care
mpiedic dezvoltarea infrastructurii pieei, vom
formula direciile principale de formare i dezvoltare a
infrastructurii pieei cerealelor i produselor
alimentare prelucrate din acestea:
Intensificarea activitii Bursei Universale
de Mrfuri din Moldova, care va permite
productorilor agricoli s realizeze
produsele lor i s fie tratai preferenial
n desfurarea activitilor n perspectiv;
Realizarea programului cu privire la crearea
pieei angro n raionul Petricani, cu
comunicaiile necesare i reelele de transport;
Formarea sistemelor (seciilor) de marketing
ca alternativ a canalelor de distribuie a
cerealelor. Aceasta va asigura integrarea
verigilor de producie, a comerului angro i a
comerului cu amnuntul prin magazine de
firm. Implementarea n practic a sistemelor
integraioniste de marketing va permite
mbuntirea micrii produciei agricole,
materiei prime i produselor alimentare,
precum i lrgirea sortimentului de produse
alimentare i sporirea calitii acestora,
reducerea pierderilor n procesul transportrii
12
Although most businesses said they used the pricing

method depending on the application demonstrates that
the application is in fact intermediaries who purchase
cereals from 98% of interviewed enterprises. Most of
them warehouses for cereals storage, but these deposits
are not enough, because since September harvest begins
sunflower and maize necessitating stored for conditioning.
Thus, even in this period businesses are forced to make
winter cereals at a price that is not fair. Agricultural
enterprises should get a higher price if they had cereals
processing lines, but according to the survey conducted
98% of enterprises do not have such lines. Regarding the
promotion of cereals companies surveyed reported that
using this marketing activity rate of 61%, and the most
popular activities are promoting sales, followed by
advertising in local and national newspapers and TV.
Market research indicates that existing
infrastructure cereals market does not contribute to the
development of agricultural production, but creates
favourable conditions for the development of the
shadow economy. The reasons that hinder the
development of market infrastructure are the lack of an
effective policy of the state, insufficient financial
means for restoring economic structures in agriculture
and prevent the development of informal market.
During the transition to a market economy
out-dated system of collection and distribution of
agricultural production has disappeared and the new
one does not correspond to market relations, practically
absent. Inefficient market infrastructure development
allows operators to fully mobilize the resources of raw
materials and food in cereals production areas and
carry out procurement for state needs.
Conclusions. Based on investigations
regarding the cereals market and highlighting the
reasons preventing the development of market
infrastructure, we will formulate the main directions of
establishing and developing of cereals market
infrastructure and processed foods thereof:
Universal Commodity Exchange increased
activity in Moldova, which will allow
farmers to realize its products and obtain
preferential perspective activities;
Developing the program on creating
wholesale market needed for Petricani
county including communications and
transport networks;
Training systems (polling) marketing as
alternative distribution channels cereals.
This will ensure that links production, the
wholesale and retail corporate stores. The
practical implementation of marketing
systems integration will enhance the
movement of agricultural production, raw
materials and food, as well as expanding
the assortment of foods and increasing
their quality, reduce losses in the
transportation
and
elimination
of
1.
2.
3.
i lichidarea verigilor de intermediari.

Dezvoltarea structurii informaionale prin
reeaua Internet i prin canalele de
comunicaie
n
marketing
pentru
promovarea produciei cerealiere.
intermediate links.
Development of information structure via
Internet and marketing communication
channels to promote cereals production.
Bibliografie / Bibliography:
BELOSTECINIC Gr., Aspecte metodologice privind evaluarea competitivitii economice. n: Romnia i
Republica Moldova. Potenialul competitiv al economiilor naionale. Posibiliti de valorificare pe piaa
intern, european, mondial. Bucureti: Academia Romn, Centrul de Informare i Documentare
Economic. 2004, vol. 1, p.p. 13-18.
STRATAN A., Eficientizarea funcionrii sectorului agrar al Republicii Moldova: reflecii, probleme,
sugestii. Chiinu: Tipografia Academiei de tiine a Moldovei, 2007. 272 p.
.., .., ..
. . . , 2009. 271 .
13
MODELAREA RELAIILOR
DINTRE COMPETITIVITATE I
CAPITALUL UMAN
Dr. asist. univ. Alina SUSLENCO,
Universitatea Alecu Russo din Bli
Asigurarea i meninerea competitivitii
personalului, pe plan naional i mondial, cuantificarea
modalitilor eficiente de sporire a avantajelor
competitive ale economiei naionale reprezint o
prioritate a strategiei de dezvoltare socio-economic a
statelor lumii. n cadrul acestui articol, au fost analizate
aspectele determinante ale interdependenelor dintre
competitivitate i capitalul uman n scopul analizei
statistice a conexiunilor observate. Metodologia
cercetrii s-a concentrat pe utilizarea unor metode,
precum: analiza, sinteza, comparaia, inducia,
abducia, abstracia tiinific, modelarea. n baza
rezultatelor cercetrilor, putem meniona c exist o
conexiune direct ntre competitivitate i capitalul
uman, fapt demonstrat de modelul de analiz a
corelaiilor dintre conceptele supuse analizei.
Cuvinte-cheie: competitivitate, capital uman,
modele econometrice, analiza statistic, corelaie.
JEL: M12, N90, R11
Introducere. Pentru creterea capacitii de
producie a ntreprinderii, un element fundamental i
aparine capitalului uman al ntreprinderii. De calitatea
capitalului uman depinde productivitatea i capacitatea
de dezvoltare a unitii economice (a unui departament,
diviziuni, seciuni, ntreprinderi).
Prin urmare, n condiiile economice actuale, o
importan deosebit o prezint cutarea criteriilor, care
ar permite o evaluare obiectiv a calitii capitalului
uman. Un sistem bine gndit i eficient de evaluare a
calitii capitalului uman va permite: reducerea
numrului de conflicte n echipe i crearea unui climat
psihologic favorabil n ntreprinderi, stimularea
activitii eficace a personalului, stabilirea unor relaii
echitabile ntre calitatea i cantitatea de munc,
pregtirea informaiei cu privire la nivelul de dezvoltare
profesional a personalului; urmrirea dinamicii
schimbrii parametrilor estimai i efectuarea unor
analize comparative pe anumite posturi.
Drept unitate de msur a calitii capitalului
uman este utilizat nivelul de pregtire general i
profesional a angajailor, experiena profesional;
numrul de propuneri elaborate de angajai cu scopul
mbuntirii procesului de producie sau a inovrilor.
Material i metod. Metodologia cercetrii s-a
focalizat pe utilizarea urmtoarelor metode: analiza,
sinteza, comparaia, inducia, abducia, abstracia
tiinific, modelarea. n urma cercetrilor, putem
concluziona c ntre competitivitate i capitalul uman
14
MODELING THE
RELATIONSHIP BETWEEN
COMPETITIVENESS AND
HUMAN CAPITAL
Assist. Lect., PhD Alina SUSLENCO
Alecu Russo State University of Balti
Ensuring
and
maintaining
staff
competitiveness on the national and international
level, the quantification of effective ways of
enhancing competitive advantages of the national
economy, are crucial strategies for socio-economic
development of world countries. This article
investigates the determinant aspects of the
interdependencies between competitiveness and
human capital for the purposes of statistically
evaluating the observed connections. The research
methodology is focused on use of the following
methods: analysis, synthesis, comparison, induction,
abduction, scientific abstraction, and modelling.
Based on the research, we can conclude that there
are direct links between competitiveness and human
capital, thus, with the growth of enterprise human
capital, the competitiveness of the companies will
increase simultaneously.
Key words: competitiveness, human capital,
econometric modelling, statistical analysis, correlation.
JEL: M12, N90, R11.
Introduction. In order to increase company
production capacity, a fundamental component belongs
to the human capital of the enterprise. The productivity
and the development capacity of the economic unit are
determined by the quality of human capital (of a
department, division, section, enterprise).
Therefore, in the current economic
conditions, particular importance is given to the
pursuit of criteria, which would permit an objective
assessment of the quality of human capital. A well
thought out and an effective quality assessment of
human capital will allow the decrease of the number
of team conflicts, will create a favourable
psychological climate in the enterprise, will stimulate
an effective personnel activity, will establish
equitable relations between the quality and the
capacity of work, will formulate the information
concerning staff professional development, and will
trace the change dynamics of estimated parameters
and performed comparative analyses.
The quality of human capital can be
assessed via evaluating the general education and
training level of the employees, their professional
experience and the number of elaborated
suggestions, having the aim of improving the
production process or the innovations.
exist legturi directe, astfel, odat cu creterea

capitalului uman al ntreprinderilor, va crete,
concomitent, i competitivitatea lor.
n prezent, nu exist nicio metodologie universal
pentru determinarea calitii capitalului uman pe baza
caracterizrii cantitative a parametrilor acestuia, ceea ce
reduce din eficiena creterii calitii capitalului uman.
Dei exist anumite cercetri tiinifice, care vizeaz
soluionarea acestei probleme complexe i extrem de
importante.
Rezultate i discuii. Am efectuat un studiu de
caz pentru colectarea datelor pentru calculul indicelui
complex al capitalului uman la nivel de ntreprindere.
Acest studiu de caz a antrenat date de la trei ntreprinderi
mari, societi pe aciuni, care dispun de peste 300 de
angajai.
n urma analizei rapoartelor financiare ale
firmelor propuse spre analiz, am calculat cei 40 de
indicatori individuali, care servesc drept baz de calcul
al competitivitii companiilor.
Pentru a determina gradul de influen al calitii
capitalului uman asupra competitivitii ntreprinderilor,
vom face o analiz de corelare i regresie.
Caracteristica cantitativ a relaiei liniare ntre 2
variabile aleatorii X i Y este coeficientul de corelaie.
Parametrul de intrare, n acest caz, va fi indicele calitii
capitalului uman, iar cel de ieire, indicele integrat al
competitivitii ntreprinderilor, care nu se afl ntr-o
dependen funcional, astfel, pentru aprecierea
nivelului de dependen, vom utiliza metoda de corelaie
liniar.
Coeficientul liniar de corelaie caracterizeaz
apropierea i direcia relaiei dintre dou variabile
corelate n cazul n care, ntre ele, exist o dependen
liniar. Evaluarea coeficientului de corelaie pentru un
eantion de observaii (Xi,Yi), i = 1, 2, 3 ... n, se
calculeaz dup formula:
unde n exprim numrul de uniti de

observare.
n studiul considerat, prin modelul de regresie,
se urmrete dac competitivitatea ntreprinderii poate
fi explicat de variaia valorii indicelui complex al
capitalului uman. Prin urmare, ca variabil
dependent
se
consider
competitivitatea
ntreprinderii, nregistrat la nivelul ntreprinderilor
analizate, iar variabil independent este reprezentat
de valoarea indicelui complex al capitalului uman.
Modelul care exprim legtura dintre variabila
dependent (competitivitatea ntreprinderii) i
Materials and methods. Currently, there is

no universal methodology for determining the
quality of human capital, based on quantitative
characterization of its parameters. This fact reduces
the effectiveness of increasing the quality of human
capital. However, there are certain scientific
researches, aimed at solving these complex and
extremely important problems.
Results and discussion. We conducted a
case study, in order to collect data for calculating the
complex index of human capital, at the enterprise
level. This case study gathered data from three large
enterprises, joint stock companies, having over 300
employees.
The analysis of financial reports of the
analysed companies offered the calculation of 40
individual indexes, serving as the basis for
calculating the competitiveness of companies.
In order to determine the influence of the
quality
of
human
capital
on
business
competitiveness, we will analyse the correlation and
regression.
The quantitative characteristic of the linear
relationship between two random variables, X and Y,
is the coefficient of correlation. The input parameter,
in this case, is the human capital index and the output
parameter, is the integrated index of business
competitiveness. The linear correlation method will
be used to assess the level of dependence.
The linear correlation coefficient characterises
the approximation and the direction of the
relationship between the two correlated variables,
when there is a linear relationship between them. The
evaluation of the correlation coefficient for a
sampling of observations (Xi, Yi), i = 1, 2, 3 ... n, is
calculated according to the formula:
where n - the number of observed units.

Within the regarded study, the regression
model aims at investigating if the enterprise
competitiveness can be explained through the variation
of the value of the complex index of human capital.
Therefore, enterprise competitiveness is considered to
be the dependent variable, registered at the level of
analysed companies, and the value of the complex
index of human capital is considered to be the
independent variable.
The model that expresses the link between the
dependent variable (enterprise competitiveness) and the
15
independent numerical variable is written as:

Y = 0 + 1 X 1 +
(4)
Analiza de corelaie a indicatorului calitii
The correlation analysis of the human capital index
capitalului
uman
(X)
asupra
indicatorului (X) on the index of enterprise competitiveness (Y) of the
competitivitii ntreprinderii (Y) la SA Barza Alb, JSC Barza Alba within the period 2008-2013, showed a
pentru perioada 2008-2013, a artat o relaie direct strong direct relationship (r = 0,769) between the
puternic (r = 0,769) ntre valorile investigate.
investigated values.
Tabelul 1/Table 1
Model Sumar / Model Summary
Eroarea standard
R 2 ajustat / Adjusted
Model /
R/R
R2 / R Square
a estimrii / Std. Error
R Square
Model
of the Estimate
1
0,769
0,591
0,455
0,14764
variabila independent numeric este scris sub forma:
Y = 0 + 1 X 1 +
(4)
a. Variabila Independent (constant): Capital Uman/ Predictors: (Constant), CU

b. Variabila Dependent: Competitivitatea / Dependent Variable: Competitiveness
Sursa: elaborat de autor / Source: developed by author
Valoarea raportului de corelaie (R=0,769)
indic faptul c ntre rata de competitivitate a
ntreprinderii i variabilele explicative considerate
exist o legtur puternic. Raportul de determinaie
arat c 59,1% din variaia variabilei competitivitatea
ntreprinderii este explicat de variaia variabilei
valorii indicelui complex al capitalului uman.
Pentru a evidenia, cu o precizie mai mare,
influena variabilelor independente asupra celei
dependente, se interpreteaz valoarea estimat a
raportului de determinaie multipl ajustat, obinut n
tabelul Model Summary, care arat c variaia
variabilei valorii indicelui complex al capitalului
uman, explic 45,5% din variaia competitivitii
ntreprinderii.
Pentru modelele de regresie, raportul de
2
determinaie multipl ajustat ( R ) este considerat

mai potrivit, deoarece comparativ cu raportul de
determinaie multipl, acesta ine cont de numrul de
grade de libertate sau de numrul de parametri care
apar n model.
Testarea modelului de regresie
The value of the ratio correlation (R = 0,769)

indicates that there is a strong connection between the rate
of company competitiveness and the considered
explicative variables. The determination report shows that
59,1% of the variation of the variable enterprise
competitiveness is explained by the variation of the
variable the value of the complex index of human capital.
Heading towards an exact highlighting of the
influence of independent variables upon the dependent
one, the estimated value of the adjusted multiple
determination report is interpreted. The obtained Model
Summary, from the table, shows that the variation of
the value of the complex index of human capital
explains 45,5% of the variation of the variable
enterprise competitiveness.
For the regression models, the adjusted
2
multiple determination report ( R ) is considered

more appropriate, as compared to the multiple
determination report, taking into account the number of
degrees of freedom or the number of parameters that
appear in the model.
Testing the regression model
Tabelul 2/Table 2
Model / Model
Suma ptratelor /
Sum of Squares
Anova/Anova
Media ptrat /
Df / df
Mean Square
F/F
Regresie/
,095
1
,095
4,336
Regresion
Residual/
,065
3
,022
Residual
Total/ Total
,160
4
a. Variabila dependent: competitivitatea/ Dependent Variable: Competitiveness
b. Variabila independent: capitalul uman/ Predictors: (Constant), CU
Sursa: elaborat de autor/ Source: developed by author
n urma testrii modelului de regresie, se
observ c probabilitatea Sig. asociat valorii testului
16
Probabilitatea /
Probability
,129
After testing the regression model, we observe that the

probability Sig. associated to Fischer from the table ANOVA,
Fischer din tabelul ANOVA, sig = 0,339, ceea ce

nseamn c modelul propus este semnificativ statistic
n vederea explicrii dependenei dintre variabile.
Aadar, se poate garanta cu o probabilitate de 95%, c
variabila independent explic variaia variabilei
dependente, competitivitatea ntreprinderii.
Testarea parametrilor modelului de regresie
Rezultatele testrii modelului de regresie sunt
redate n tabelul 3.
(sig=0,339), which means that the proposed model is

statistically significantly for explaining the dependence
between the variables. Therefore, with a probability of 95%,
it can be guaranteed that the independent variable explains
the variation of the dependent variable, i.e. enterprise
competitiveness.
Testing the parameters of the regression model
The results of testing the regression model are
elucidated in table 3.
Tabelul 3/Table 3
Coeficieni / Coefficients
Coeficieni
Coeficieni nestandardizai/
standardizai/
Unstandardized Coefficients
Standardized
Abaterea/
t/ t
Coefficients
Deviation.
Eroarea standard/
Beta/ Beta
B/ B
Std.Error
Model/ Model
Variabila
constant CU/
Constant
variabile CU
-11,167
5,974
3,093
1-485
,769
-1,869
,158
2,082
,129
a. Variabila dependent: competitivitatea/ Dependent Variable: Competitiveness

Pe baza rezultatelor din tabelul Coefficients,
obinem modelul estimat:
Y = -11,167+ 3,093X1
(5)
Interpretarea coeficienilor ecuaiei de regresie:
b0 = -11,167,este nivelul mediu estimat al
competitivitii ntreprinderii n condiiile n
care influena variabilei valorii indicelui
complex al capitalului uman, este nul. Aceasta
ne
demonstreaz
c
competitivitatea
ntreprinderii va scdea odat ce variabila
independent va fi nul;
b1= 3,093, reprezint creterea medie a
competitivitii ntreprinderii SA Barza Alb,
dac valoarea indicelui complex al capitalului
uman crete cu 1%.
Valoarea Sig. (0,158> =0.05), obinut n urma
testrii coeficientului b 1 , conduce la decizia de acceptare
a ipotezei nule (H 0 : 1 =0), conform creia coeficientul
de regresie nu este semnificativ diferit de 0.
Validarea modelului de regresie
Modelul liniar estimat trebuie validat prin
testarea ipotezelor privind erorile de modelare i
anume: media erorilor este nul, normalitatea,
homoscedasticitatea, respectiv, necorelarea erorilor.
Formal, aceste ipoteze se scriu astfel:
M( i ) = 0, media erorilor este nul;
i
V( i )
N(0,
=
2 ), ipoteza de normalitate;
2,
ipoteza
de
Based on the results from the table Coefficients

we obtain the estimated model:
Y = -11,167+ 3,093X 1
(5)
The interpretation of the coefficients of the
regression equation
- b0= -11,167, is the average estimated rate of
enterprise competitiveness under the conditions that the
influence of the value variable of complex index of
human capital is null. This proves that the companys
competitiveness will decline once the independent
variable will be null;
- b1= 3,093, represents the average growth of the
enterprise competitiveness of JSC Barza Alba, if the
value of complex index of human capital increases by
1%.
The value Sig. (0,158> =0.05), achieved after
the testation of b 1 coefficient, determines the decision
of
accepting
the
null
hypothesis
(H 0 : 1 =0),
according to which the regression coefficient is not

significantly different from 0.
Validation of the regression model
The estimated linear model must be validated by
testing the hypotheses concerning the modelling errors,
namely: the average of errors is null, the normality, the
homoscedasticity, respectively, the non-correlation of errors.
Formally, these hypotheses can be interpreted in
the following way:
- M( i ) = 0, the average of errors is null;
17
i N(0, 2 ), the normality hypothesis;

2
- V( i ) = , the homoscedasticity hypothesis;
- cov( i , j ) = 0, the hypothesis of non-
homoscedasticitate;
cov( i , j ) = 0, ipoteza de necorelare sau
de independen a erorilor.
1. Testarea ipotezei M( i ) = 0
n urma testrii ipotezei cu privire la media
erorilor, s-a obinut urmtorul output redat n
tabelul 4.
t/t
Valoarea
nestandardizat /
Unstandardized
Predicted Value
3,986
correlation or that of independence of errors.

1. Testing the hypothesis M( i ) = 0
Having tested the average error hypothesis, the
following out-put was obtained, shown in table 4.
Tabelul 4/Table 4
Un simplu test / One Sample test
Valoarea testat=1/ Test Value=1
95% interval de ncredere
Diferena
a diferenei / 95% Confidence
Sig.(2 nivel) /
Df / df
medie / Mean
Interval of the Difference
Sig.2 tailed
Difference
Inferior/lower
Superior/upper
4
, 016
,27400000
,0831250
,4648750

Interpretare
Valoarea
asociat
statisticii
Student
(sig=0,16> = 0.05 ) permite luarea deciziei de
acceptare a ipotezei nule (H 0 : M( )=0), cu un nivel
Interpretation
The value associated to Student statistics
(sig=0,16> = 0.05 ) determines the acceptance of the
null hypothesis (H 0 : M( )=0), with a confidence
de ncredere de 95%. Aceasta nseamn c admitem

ipoteza conform creia media erorilor nu difer
semnificativ de valoarea zero.
2. Testarea normalitii erorilor
Pentru testarea normalitii erorilor modelului
de regresie, se folosete testul non-parametric
Kolmogorov-Smirnov. Pentru modelul considerat, n
urma prelucrrii datelor n SPSS, s-au obinut
urmtoarele rezultate redate n tabelul 5.
level of 95%. This means that we admit the hypothesis

that the average error is not significantly different from
zero.
2. Testing the normality of errors
In order to test the normality of the errors of the
regression model, the non-parametric test KolmogorovSmirnov is used. For the considered model, after data
processing, using the SPSS, the following results were
obtained, elucidated in table 5.
Tabelul 5/ Table 5
Testul Kolmogorov-Smirnov/ One-Sample Kolmogorov-Smirnov Test
Valoarea nestandardizat/ Unstandardized
Predicted Value
N/ N
5
Media parametrilor normali/ Mean of Normal Parameters
1,2740000
Abaterea standard/ Std. Deviation
,15372513
Abaterea absolut/ Absolute Deviation
,164
Cele mai mari diferene pozitive/ Most Extreme Differences
,159
Positive
Cele mai mari diferene negative/ Most Extreme Differences
,164
Negative
Valoarea Z Kolmogorov-Smirnov/ Kolmogorov-Smirnov Z
,367
Eroarea sig./ Asymp. Sig. (2-tailed)
,999
a. Testul distribuiei normale/ Test distribution is Normal.
b. Calculat n baza datelor/ Calculated from data.
18
Interpretare
Datele din tabelul de mai sus arat c valoarea
probabilitii asociate statisticii test calculate este
(sig=0,999) > 0.05, ceea ce conduce la decizia de
N(0, )). Se
Interpretation
The data from the above table show that the
probability value related to the calculated test statistics
is (sig=0,999) > 0.05, this determines the decision of
2
accepting the null hypothesis (H 0 : i N(0, )).
poate, astfel, garanta, cu o probabilitate de 0.95, c

distribuia erorilor modelului de regresie estimat
urmeaz o lege de distribuie normal.
3. Testarea homoscedasticitii
Ipoteza de homoscedasticitate presupune ca
varianta erorilor s fie constant. Pentru testarea
acesteia, se formuleaz urmtoarele ipoteze statistice:
H 0 : ipoteza de homoscedasticitate (V( i )
Therefore, it can be guaranteed, with a probability of

0.95, that the distribution of errors, of the estimated
regression model, follows a normal law distribution.
3. Testing the homoscedasticity
The homoscedasticity hypothesis assumes that
the variation of errors is constant. To test it, we make
the following statistical assumptions:
- H 0 : the homoscedasticity hypothesis (V( i )
acceptare a ipotezei de nul (H 0 :
= )
= )
- H 1 : the heteroscedasticity hypothesis (V( i )
H 1 : ipoteza de heteroscedasticitate (V( i )

= i )
= i )
The testing of the heteroscedasticity

hypothesis can be performed by a nonparametric
correlation test between the modelling estimated errors
(in absolute value) and the numerical values of the
independent variables.
The testing of the homoscedasticity hypothesis
can be performed by the statistical test Spearman. After
analysis the data, we acquired the following results for
this regression model, mentioned in table 6.
Testarea ipotezei de homoscedasticitate se

poate realiza prin testul corelaiei neparametrice ntre
erorile de modelare estimate (n mrime absolut) i
valorile variabilelor independente numerice.
Pentru testarea ipotezei de homoscedasticitate
se folosete statistica test Spearman. Pentru modelul
de regresie considerat, n urma prelucrrii datelor n
SPSS, s-au obinut urmtoarele rezultate redate n
tabelul 6.
Tabelul 6/Table 6
Coeficientul de corelaie/
Correlation coefficient
Abs-residual/ Abs. residual
N/ N
Coeficientul Spearman/ Spearmans
Coefficient
CU sig./ CU sig.
N/ N
Corelaii / Correlations
Abs-residual/ Abs-residual
1,000
CU/ CU
1,000
.
5
1,000
.
5
1,000
.
5
.
5

Interpretare
n tabelul Correlations, este dat valoarea
coeficientului de corelaie Spearman (r = -0.100), precum
i rezultatele obinute n urma testrii acestui coeficient.
Aceasta ne permite s admitem ipoteza de
homoscedasticitate pentru modelul de regresie cu o
probabilitate de 0.95.
Concluzii
Stabilirea unor relaii cantitative ntre
indicatorul integrat al competitivitii ntreprinderii i
indicatorul calitii capitalului uman, creterea
concurenei, utilizarea noilor tehnologii i linii de
produse, utilizarea de noi tehnici de vnzare, creterea
barierelor
de
atingere
a
competitivitii
ntreprinderilor, determin necesitatea ridicrii
Interpretation
In the Correlations table, the coefficient of
correlation Spearman (r = -0.100) is given, along with
the results attained from its testing. This allows us to
accept the homoscedasticity hypothesis for the
regression model with a probability of 0.95.
Conclusions
Establishing certain quantitative relationship
between the integrated index of enterprise
competitiveness and the index of human capital quality,
together with the increased competition, the use of new
technologies and product lines, the expenditure of new
sales techniques, the intensification of business barriers on
the path of achieving enterprise competitiveness,
encourage the need to continuously raise the quality of
19
continue a calitii capitalului uman, a acumulrii de

informaii, de noi cunotine teoretice i aplicarea lor
n practic, deci, creterea constant a competenelor
profesionale ale angajailor.
1.
2.
3.
4.
5.
20
human capital, to accumulate new information and gain

new theoretical and practical knowledge, to apply this
knowledge into practice, consequently, to develop the
professional skills of the employees.
ARMSTRONG, M., Managementul resurselor umane, manual practic, Editura CODECS, Bucureti, 2003.
GHERASIMOV, B., Managementul personalului, Editura Fenix, Rostov pe Don, 2003.
JABA, E., JEMNA, D.V., Econometrie, Editura Sedcom Libris, Iai, 2006.
JEMNA, D.V., Eficiena sondajului statistic, Editura Sedcom Libris, Iai, 2005.
PRODAN, A., Managementul Resurselor Umane: Ghid Practic, Editura Economic, Bucureti, 2011.
NVMNTUL PROFESIONAL
TEHNIC DIN REPUBLICA
MOLDOVA BAZAT PE
INSTITUIONALIZAREA
MECANISMELOR DE
INTERACIUNE DINTRE
SISTEMUL EDUCAIONAL I
ECONOMIC
Drd. Veronica MIDARI, ASEM
nvmntul profesional tehnic constituie o
prioritate pentru Republica Moldova. Scopul reformrii
nvmntului profesional tehnic const n asigurarea
sinergiei dintre sistemul educaional i sistemul
economic, astfel nct economia naional s beneficieze
de for de munc de calitate. Modelul tradiional de
formare profesional-tehnic este depit. n acest
context, este foarte relevant experiena rilor cu
modele de organizare a nvmntului profesional
tehnic diferite de modelul tradiional i anume, modelul
de nvmnt dual, modelul ntreprinderii n cadrul
colii, modelul bazat pe cererea agenilor economici fa
de fora de munc muncitoreasc, modelul
instituionalizrii mecanismelor de interaciune dintre
educaie i economie. Pentru a revizui modelul autohton
de formare profesional-tehnic este important de
analizat particularitile modelelor netradiionale. n
paralel cu eficientizarea organizrii sistemului de
formare profesional-tehnic, este necesar de
instituionalizat mecanisme proprii de interaciune dintre
educaie i economie. Articolul prezint o descriere a
instituiilor i modalitilor de asigurare a dialogului
dintre aceste dou sisteme.
Cuvinte-cheie: nvmnt profesional tehnic
(PT), nvmnt dual, Comitete Sectoriale, Centrul
Republican de Dezvoltare a nvmntului Profesional,
Consiliul Coordonator Naional de Dezvoltare a
nvmntului Profesional.
JEL: I25
Introducere. nvmntul profesional tehnic
este o prioritate pentru Republica Moldova. Aceast
direcie strategic este susinut de elaborrile
Ministerului Educaiei i asumat de ctre Guvernul
Republicii Moldova: Strategia Naional de Dezvoltare
Moldova 2020: 7 soluii pentru creterea economic
i reducerea srciei, aprobat prin HG nr. 187 din
03.04.2012; Strategia de dezvoltare a nvmntului
vocaional-tehnic pe anii 2013-2020, aprobat prin
HG nr. 97 din 01.02.2013; Foaia de parcurs privind
aciunile Guvernului n vederea dezvoltrii
nvmntului vocaional-tehnic pentru perioada
2013-2020, HG nr. 892 din 12.11.2013; Strategia de
VOCATIONAL EDUCATION
SYSTEM IN THE REPUBLIC OF
MOLDOVA BASED ON
INSTITUTIONALIZATION OF
INTERACTION MECHANISM
BETWEEN EDUCATION AND
ECONOMIC SYSTEMS
PhD student Veronica MIDARI, ASEM
Vocational education and training is a
priority for Moldova. The purpose of technical
vocational education reform is to ensure synergy
between education and economic system, so the
national economy to benefit from quality workforce.
The traditional model of VET system is out-dated. In
this context the experience of other counties with
different models of organization of VET system is very
relevant, namely the dual education model, the model
of enterprise within the school, market model (based on
the workforce demand of employers), the model of
institutionalization of mechanisms for interaction
between education and the economy. In order to revise
local traditional way of organization of VET system is
important to analyse the specific aspects of nontraditional models. In parallel with the streamline of
national VET system is necessary to institutionalize the
adequate mechanism of interaction between education
and economic systems. The article presents a
description of institutions needed for ensuring the
social dialog for the development of VET system.
Key words: technical vocational education
and training (TVET), dual system of education, Sector
Committees, VET Centre, National VET Coordination
Council.
JEL: I25
Introduction. Technical vocational education
and training is a priority for Moldova. This strategic
direction is supported by the Ministry of Education
elaborations,
undertaken
by
the
Moldovan
Government, based on the following documents:
National Development Strategy Moldova 2020: 7
solutions for economic growth and poverty reduction,
approved by Government Decision no. 187 of
03.04.2012; Strategy for the development of vocational
education and training, for 2013-2020, approved by
Government Decision no. 97 of 01.02.2013; Roadmap
for actions of the Government in the development of
vocational education for the period 2013-2020,
approved by Government Decision no. 892 of
12.11.2013; Education Development Strategy for the
years 2014-2020, Education 2020, approved by
21
dezvoltare a educaiei pentru anii 2014-2020,

Educaia-2020, aprobat prin Hotrrea Guvernului
nr.944, din 14 noiembrie 2014.
Scopul de baz promovat prin actele
guvernamentale const n asigurarea sinergiei dintre
sistemul educaional i sistemul economic pentru ca, n
final, economia naional s beneficieze de for de munc
de calitate. Conform Strategiei Naionale de Dezvoltare
Moldova 2020, o for de munc, mai bine educat i
mai bine racordat la necesitile economiei, influeneaz
producia naional brut. Conform Strategiei de
dezvoltare a nvmntului vocaional-tehnic, pe anii
2013-2020, pn n anul 2020, nvmntul profesional
tehnic trebuie s devin atractiv, de calitate, relevant
cerinelor pe pia, accesibil, orientat pe carier, flexibil.
Foaia de parcurs privind aciunile Guvernului n vederea
dezvoltrii nvmntului profesional tehnic pentru
perioada 2013-2020 i Planul de aciuni al Strategiei de
dezvoltare a nvmntului profesional tehnic pe anii
2013-2020 susin cu aciuni concrete realizarea acestui
obiectiv major. Pentru a atinge aceste obiective, sistemul
de nvmnt profesional tehnic trebuie s revad modul
de organizare i funcionare, pentru a spori eficiena i
pentru a rspunde ct mai amplu la necesitile pieei
muncii.
1.Modele de organizare a nvmntul
profesional tehnic existente n lume
Din anii 1990, n lume, n cadrul nvmntului
profesional tehnic, se produc schimbri majore. Banca
Mondial a acordat asisten pentru susinerea proceselor
de reformare a acestui sistem i a constatat c majoritatea
rilor recunosc necesitatea de a mpri responsabilitatea
financiar dintre sectorul educaiei i lumea de afaceri.
Procesul este de lung durat, deoarece sunt implicai
muli actori. Ceea ce este decisiv este fidelitatea
permanent pentru aceast cauz [1 p.60]. n contextul
acestei reforme, sunt necesare msuri la nivel
guvernamental i msuri la nivel instituional [2, p.69]. Cu
toate c piaa este un factor regulator, nvmntul
profesional tehnic nu trebuie dezvoltat fr a apela la
inteligena pieei muncii. Piaa muncii poate ghida
procesul de luare a deciziilor, dar nu ofer reete
miraculoase care ar putea rezolva totul1 [3, p.72].
Analiza pe ri, n funcie de nivelul veniturilor,
demonstreaz c ponderea studenilor n nvmntul
profesional-tehnic este cu att mai mare, cu ct mai
dezvoltat este sistemul economic al rii: peste 17%
pentru rile dezvoltate, circa 9% pentru rile n curs de
dezvoltare i circa 5% pentru cele subdezvoltate. Aceast
situaie nu este identic cu cea din rile avansate, cum sunt
SUA, Japonia i Marea Britanie, n care timp ndelungat
nu s-a acordat atenie acestui tip de nvmnt [4, p.153].
Exist mai multe modaliti de ajustare a procesului de
formare profesional din nvmntul profesional-tehnic
la necesitile i rigorile pieei muncii. Mai jos, sunt
Government Decision nr.944 of November 14, 2014.

The basic aim promoted by government acts is
to ensure synergy between educ ation and economic
system in such a way that national economy could
benefit from quality workforce. According to the
National Development Strategy Moldova 2020, a
well-educated workforce and better connected to the
needs of the economy, is influencing the gross national
product. According to the Strategy for the development
of vocational education and training, the years 20132020, technical vocational education system must
become attractive, quality, relevant to the market
requirements, affordable, career-oriented, and flexible.
Roadmap for actions of the Government in the
development of vocational education for the period
2013 2020 supports with concrete actions the
achievement of this major objective. In order to get the
objective attained the technical vocational education
system should review its way of organization and
operation, increase efficiency and fully meet labour
market needs.
1. Models of organization of technical
vocational education existing in the world
Since 1990, major changes occurred in
technical vocational education systems across the
world. The World Bank has provided assistance to
support the reform process in this system and found
that most countries recognize the need to share the
financial responsibility of the education sector and
business world. The process is lengthy because it
involved many actors. The most important is the
permanent fidelity to the cause [1, p.60]. In the context,
measures are needed at government and institutional
levels [2, p.69]. Although the market is a regulator
factor, technical vocational education should not be
developed without applying to labour market
intelligence. The lab or market can guide decisionmaking process, but does not offer miraculous recipes
that could solve everything [3, p.72]1.
The countries analysis, considering the income
levels, shows that the share of students in technical
vocational education is as greater, as more developed is
the economic system of the country: over 17% - for
developed countries, about 9% for developing countries
and about 5% for underdeveloped. This situation is not
identical with the advanced countries such as the US,
Japan and Britain, that for long time have not given
attention to this type of education [4, p.153]. There are
several ways of adjusting the process of vocational
technical training to labour market needs and
requirements. Below is presented a description of several
models of organization of technical vocational education
exist in the world.
Traditional school based model of
organization of vocation education:
M. erban, O nou perspectiv privind nvmntul profesional i tehnic n Romnia, Chiinu: BusinessElita, 2006
22
prezentate mai multe modele de organizare a

nvmntului profesional-tehnic existente n lume.
Modelul de organizare a nvmntului
profesional-tehnic n mod tradiional:
Statul, n persoana Ministerului Educaiei, n
mod birocratic, planific, organizeaz i
controleaz toate aspectele nvmntului
profesional;
Statul
este elaboratorul nomenclatorului
meseriilor i specialitilor, dar nu totdeauna are
n vedere interesele curente ale produciei;
Statul asigur control i planificare rigid;
Finanarea este asigurat de ctre stat [5, p.18].
Modelul nvmntului dual (Germania,
Austria, Elveia, Luxemburg):
Model bazat pe cererea agentului economic fa
de fora de munc, controlat puternic de stat;
Finanarea de baz din partea agentului
economic;
Controlul din partea statului;
Susinere financiar a agentului economic prin
subvenii i alocri de fonduri din partea statului;
Acest sistem este practicat, n mai multe ri, iar
de civa ani, se implementeaz n China i-n alte
ri din Asia i India, Pakistan, Turcia [6].
Modelul organizrii activitii economice n
cadrul colii (Suedia, Danemarca, Finlanda):
Statul planific, organizeaz i controleaz toate
aspectele nvmntului profesional, dar se
consult cu agenii economici despre tendinele
i solicitrile de pe pia;
Statul doteaz atelierele din coal pentru
realizarea activitii de producie/prestare
servicii;
Statul reglementeaz partea de formare
profesional i activitate de producie /prestare
servicii;
Instituia are un anumit grad de independen n
deciderea activitii economice;
Control din partea statului;
Finanarea este asigurat de ctre stat, ns acest
model se implementeaz de multe ori n baza
parteneriatului public-privat.
Modelul instituionalizrii mecanismelor de
interaciune dintre educaie i activitate economic:
Statul ntrunete structurile relevante pentru
realizarea dialogului social pentru formarea
profesional de calitate;
Sindicatele, patronatele i reprezentanii statului
formeaz foruri competente pe diverse sectoare
ale economiei care stabilesc rigorile pentru
formarea profesional;
Statul identific agenii economici pentru stagiile
practice;
Control din partea statului cu implicarea
agentului economic n formarea profesional;
Finanarea este asigurat de ctre stat;
Acest model este popular n Uniunea European,
The state, through the Ministry of Education, is

bureaucratically planning, organizing and
controlling all aspects of vocational education;
The state is the developer of Nomenclature of
professions and specialties, but is not always
aware about the interests of current production;
The state provides rigid scheduling and control;
Funding is provided by the state [5 p.18]
Dual system of vocation education
(Germany, Austria, Switzerland, Luxemburg):
Model based on the companys demands
towards workforce, under strong state control;
Core funding provided by economic agents;
Strong state control;
Financial support provided to the companies
through grants and allocations from the state;
This system is applied in several EU countries
and for several years is being implemented in
China, India, Pakistan, Turkey [6].
Economic activity within the vocation
education school (Sweden, Denmark, Finland):
The state plans, organizes and controls all
aspects of vocational education, but consult with
economic trends and market demands;
The state equips school workshops for carrying
out the economic activity;
The state regulates the training and economic
activity within the VET school;
The institution has a certain degree of
independence in deciding economic activity;
State control;
Funding is provided by the state, but this model
is often implemented under public-private
partnership.
Institutionalization of interaction mechanisms
between education and economy
The state establishes the relevant structures for
ensuring social dialogue on labor force training;
The trade unions, employers and state
representatives create competent forums on
various sectors of the economy to formulate the
requirements for professional training;
The state identifies economic agents for
apprenticeships;
Control of the state on professional training with
involvement of economic agents;
Funding is provided by the state.
This model is popular in the European Union; it
overlaps with the existing of traditional
school-based model, dual system education
model and economic activity within the
school. This approach started to strengthen
since 80s when it was realized the fact that
vocational education should be closely linked
to the national economy and when
employment strategic objectives were
formulated in official documents. The
platform created for the active interaction
23
el se suprapune cu modelele deja existente de

coal tradiional, coal bazat pe nvmnt
dual i modelul ntreprinderii n cadrul colii.
Aceast abordare a nceput s se consolideze
ncepnd cu anii 80, cnd s-a contientizat faptul
c educaia profesional trebuie s aib o
legtur strns cu economia naional i au fost
formulate obiectivele strategice privind ocuparea
forei de munc. Platforma n baza creia s-a
format modelul de interaciune activ dintre
educaie i economie este constituit din mai
multe componente.
Sistemul instituional cu mecanismele de
interaciune i modalitatea de colaborare n
cadrul acestui model sunt destul de complexe.
Modelul bazat pe cererea agentului economic
fa de fora de munc (Japonia i SUA, Coreea de Sud
[7]:
Statul joac un rol limitat;
Formarea profesional se dezvolt sub influena
factorilor economici;
n Japonia i SUA, n coala de cultur general,
n clasele 11, 12, se ofer cursuri specializate de
formare profesional, dar nu se obin certificate
de calificare. Are loc profesionalizarea prin
introducere n programul colii generale a
instruirii profesionale obligatorii;
Certificarea se obine n cadrul ntreprinderilor
sau instituiilor de formare profesional privat
[8, p.19].
Analiza modelelor de organizare a nvmntului
profesional tehnic este necesar pentru realitile
Republicii Moldova. Aceast necesitate este determinat
de faptul c modelul tradiional de formare profesionaltehnic nu rspunde cerinelor. Documentele de dezvoltare
strategic din domeniul educaiei i, n special, din
domeniul nvmntului profesional-tehnic scot n
eviden faptul c formarea profesional-tehnic prezint un
ir de carene, ceea ce determin dezechilibrul pe piaa
forei de munc i satisfacia n descretere a angajatorilor
fa de calitatea forei de munc.
Modelele de organizare a sistemului de formare
profesional-tehnic sunt diverse i comport att avantaje,
ct i dezavantaje, precum i riscuri iminente n condiiile
Republicii Moldova. Acestea trebuie analizate minuios
nainte de a lua decizii majore. n continuare, este
prezentat o analiz a particularitilor modelului de
instituionalizare a mecanismelor de interaciune dintre
educaie i economie necesare pentru eficientizarea
procesului de formare profesional-tehnic.
2. Interaciunea dintre mediul educaional i cel
economic
Caracteristica general a modelului de
interaciune dintre sistemul educaional i cel economic
Rolul de lider n modelul de interaciune este
mprit ntre doi actori mari: sistemul educaional i
sistemul economic. Comunicarea eficient ntre aceste
sisteme depinde de modul de interaciune i de frecvena
24
between education and economy was made up

of several components.
The institutional system meant to ensure
interaction and collaboration is quite complex.
Market model based on the workforce
demand of employers (Japan, USA, South Korea [7]:
The state plays a limited role;
The VET system develops under the influence of
economic factors;
In Japan, USA the secondary school, in grades
11, 12, are offering specialized courses in
professional occupations, but qualification
certificates are not obtained. Development of
professional skills are provided by introduction
in secondary school of a mandatory vocation
education program;
Certification is obtained in enterprises or private
vocational educations institutions [8p.19]
The situation in VET system in Republic of
Moldova requires an analysis of models of organization
of technical vocational education existing in the world.
This need stems from the fact that the traditional model
of vocation education does not meet the requirements.
Strategic development documents regarding education
and, in particular, technical vocational education,
highlight the fact that the vocational training has a
number of shortcomings, which causes imbalance in
the labour market and produce a decreasing employers'
satisfaction with the quality of labour work.
Different models of organizing the vocational
education system carry advantages and disadvantages,
as well as risks in the conditions of Republic of
Moldova. They should be carefully assessed before
taking major decisions. Below there is an analysis of
the peculiarities concerning the model of
institutionalizing mechanisms of interaction between
education and economy, necessary to improve the
efficiency of vocation education.
2. Institutionalization of interaction mechanisms
General characteristic the model of interaction
The leading role in the interaction model is
divided between two great actors: education and
economic system. Effective communication between
these systems depends on the capacity of interaction
and the frequency. The carried analyses reveals that
current mechanisms of interaction between technical
vocational education system and the economy are
insufficient [9 p.8] for professional training programs
to be responsive to changing labour market
requirements. Thus, new mechanisms must be
institutionalized, capable of supporting the formulation
of requirements for VET system [10, p.8].
At the central level, the educational system is
composed of several entities: the Ministry of
Education, VET Centre, and Agency for Quality
Assurance in professional education. At the same time,
aplicrii acestora. Analizele realizate constat c

mecanismele actuale de interaciune dintre sistemul de
nvmnt profesional-tehnic i cel economic sunt
insuficiente [9, p.8] pentru ca programele de formare
profesional s fie receptive la schimbrile solicitrilor
pieei muncii. Astfel, trebuie instituionalizate mecanisme
noi, capabile de a susine cerinele fa de formarea
profesional tehnic [10, p.8].
La nivel central, sistemul educaional este format
din cteva entiti: Ministerul Educaiei, Centrul
Republican de Dezvoltare a nvmntului Profesional,
Agenia de asigurare a calitii n nvmntul profesional.
Totodat, la nivel central, sistemul economic este gestionat
de Ministerul Economiei i Ministerul Muncii, Proteciei
Sociale i Familiei, ministerele de resort (Ministerul
Agriculturi i Industriei Alimentare, Ministerul
Transporturilor i Infrastructurii Drumurilor, Ministerul
Dezvoltrii Regionale i Construciilor, Ministerul
Tehnologiei Informaiei i Comunicaiilor), Comitetele
Sectoriale n ramurile economiei.
Instituia de la nivel central care trebuie s asigure
interaciunea dintre sistemul educaional i cel economic
este Consiliul Coordonator Naional de Dezvoltare a
nvmntului Profesional. Conform regulamentului,
misiunea Consiliului const n asigurarea sinergiei dintre
nvmntul profesional tehnic, piaa muncii i economia
naional, contribuind la susinerea proiectelor naionale i
internaionale relevante pentru consolidarea relaiilor de
parteneriat dintre reprezentanii mediului de afaceri i
reprezentanii sistemului educaional, dezvoltarea i
modernizarea
nvmntului
profesional
tehnic,
racordarea ofertei instituiilor de nvmnt profesional la
cerinele pieei forei de munc, precum i creterea
calitii pregtirii cadrelor de muncitori/tehnicieni i
specialiti calificai [11]. Principiul pe care trebuie s se
focalizeze Consiliul Naional de Dezvoltare a
nvmntului Profesional este realizarea sinergiei dintre
sistemul educaional i sistemul economic.
Consiliul Naional de Dezvoltare a nvmntului
Profesional este o structur care, conform regulamentului,
se ntrunete cel puin trimestrial, pentru a lua decizii
strategice i a analiza posibiliti de conexiune mai
profund dintre direciile economice strategice cu procesul
de formare profesional. Pentru modelul de formare
profesional n baza interaciunii dintre sectorul educaiei
i economiei, aceast instituie are un rol central, care nu
poate fi subestimat. ns, fiind format n 2008, a realizat,
pn n prezent, 3 edine de lucru. La ora actual, rolul
acestei entiti rmne nerealizat.
Un alt mecanism de interaciune la nivel central
este colaborarea Ministerului Educaiei cu Ministerul
Muncii i Proteciei Sociale i Ministerul Economiei.
Aceasta se realizeaz, n principal, la momentul deciderii
comenzii de stat, privind formarea forei de munc pe
meserii i specialiti. Aceast procedur are loc o dat pe
an i urmrete scopul estimrii forei de munc necesare
economiei naionale. Cu toate c metodologia de estimare
a necesarului de for de munc, pe domenii ale
at the central level the economic system is managed by

the Ministry of Economy and Ministry of Labour,
Social Protection and Family, line Ministries (Ministry
of Agriculture and Food Industry, Ministry of
Transport and Road Infrastructure, Ministry of
Regional Development and Construction, Ministry of
Information and Communications Technology) , Sector
Committees for all fields of economy.
Central institution that must ensure interaction
between education and economy is the National VET
Council (National Coordination Council for the
Development of Professional Education). According
to the regulation, the Councils mission is to ensure
synergy between the technical vocational education,
labour market and national economy, contributing to
the development of relevant national and international
support projects for strengthening the partnership
between business representatives and representatives of
the educational system, technical development and
modernization of vocational education, better
vocational schools offer connection to labour market
requirements, and increase the quality of workers /
technicians and skilled specialists [11]. The principle
that National VET Council should be focused on is the
achievement of maximal connection between education
and economic systems.
According to the regulation of the National
VET Council, it shall meet at least quarterly to make
strategic decisions and to analyse opportunities for
deeper connection between strategic economic
directions and professional training process. This
institution has a central role that cannot be
underestimated. However, being established in 2008, it
has organized only three working sessions. The current
role of this entity remains unfulfilled.
Another central mechanism of interaction is
the collaboration between the Ministry of Education
and Ministry of Labour and Social Protection and
Family and Ministry of Economy. This collaboration is
mainly focused on the state order regarding the need
for workforce for different sectors of economy. This
procedure takes place once a year and aims to estimate
the labour force required by national economy.
Although the methodology for estimating the demand
for labour on the fields of economy has been revised
repeatedly, there are still shortcomings and
dissatisfaction regarding the forecasting errors.
Another mechanism of interaction, present at
central level, is the work of the Sector Committees.
Sector Committees have a multiple role. They develop,
validate
and
review
Occupational
Profiles,
Occupational
Standards,
and
Professional
Qualifications for workers / specialties from all sectors
of the economy. Professional Qualifications are part of
the National Qualifications Framework. National
Framework of Qualifications is one of the most
important tools via which the economic environment
pre-defines the knowledge, skills and attitudes of a
25
economiei, a fost revizuit n mod repetat, exist, ns,

carene i nemulumiri privind erorile de prognozare.
Un alt mecanism de interaciune la nivel central o
reprezint activitatea Comitetelor Sectoriale. Comitetele
Sectoriale au un rol multiplu. Ele elaboreaz, valideaz i
revizuiesc Profilul Ocupaional, Standardele Ocupaionale,
Calificrile Profesionale pentru meserii /specialiti din
toate sectoarele economiei. Acestea, ulterior, completeaz
Cadrul Naional al Calificrilor. Cadrul Naional al
Calificrilor devine unul din cele mai importante
instrumente prin care mediul economic pre-definete
cunotinele,
abilitile
i
atitudinile
unui
meseria/specialist conform cerinelor de pe piaa muncii.
n baza acestui document, sectorul educaiei este n stare s
elaboreze un curriculum racordat la necesitile economiei.
n majoritatea rilor UE, exist Agenia Cadrului
Naional al Calificrilor, entitate finanat de la bugetul
de stat. Aceast agenie este responsabil de elaborrile
respective i coordoneaz cu activitatea Comitetelor
Sectoriale. Activitatea Ageniei pentru Asigurarea
Calitii n nvmntul Profesional este la fel de
important n acest sens.
Dei, n Republica Moldova, Comitetele Sectoriale
s-au instituit, n 2009, cu suportul proiectelor Uniunii
Europene, totui, n 2015, exist doar 6 Comitete
Sectoriale: (1) n agricultur i industria alimentar, (2) n
construcii, (3) n tehnologii informaionale i comunicaii,
(4) n transporturi, (5) comer, (6) n industria nonalimentar. n Regulament, cadrul privind activitatea
Comitetelor Sectoriale, statutul juridic al acestor entiti nu
corespunde misiunii sale. Comitetele Sectoriale se afl n
dificultate de a se autogestiona i produce Standardele
Ocupaionale i alte livrabile necesare pentru a susine
procesul de transfer al informaiei din ramura sectorial
spre sistemul educaional [12, p.2].
Un alt mecanism important de interaciune dintre
sistemul educaional i cel economic trebuie s fie realizat
de ctre Centrul Republican de Dezvoltare a
nvmntului Profesional (CRDP). Misiunea acestei
entiti, conform regulamentului de activitate, este de a
asigura informaional i analitic procesul de interaciune
dintre piaa muncii i sectorul formrii profesionale [13,
p.1]. Rolul lui a fost conceput ca fiind un centru de
cercetare i analiz a pieei muncii cu ulterioara ajustare a
curriculumului educaional [14] Actualmente, tot mai
important este ca Centrul s coordoneze activitatea
Comitetelor Sectoriale i s se ocupe de formarea
competenelor acestora pentru realizarea funciilor lor. n
alte ri, acest rol este realizat de Institutul de Cercetare
tiinific cu un buget propriu pe msur s realizeze
aceast sarcin la nivelul cuvenit.
La momentul de fa, Centrul este plasat n cadrul
Institutului de tiine ale Educaiei, neavnd nivelul
necesar n ierarhia instituional pentru a realiza
conexiunea dintre Ministerul Muncii, Proteciei Sociale i
Familiei, Ministerul Economiei i ministerele de resort cu
Ministerul Educaiei. Din acest motiv, misiunea de baz nu
poate fi realizat la nivelul ateptrilor. Centrul este mai
26
workers / specialists as required by the labour market.

Based on this document, the education sector is able to
develop curriculum adjusted to the needs of the
economy. In most EU countries there is an Agency for
National Qualifications Framework, an entity funded
by the state. This agency is responsible for
coordinating the work of Sector Committees and for
developing the Professional Qualifications. Another
very important entity is the National Agency for
Quality Assurance in Professional Education.
Although in Moldova, Sector Committees
were established in 2009 with the support of EU
projects; however, in 2015 there are only 6 Sector
Committees: (1) Agriculture and food industry, (2)
Construction, (3) Information technologies and
communications, (4) Transport, (5) Trade, (6) Nonfood industry. The Regulation on the activity of the
Sector Committees stipulates the legal status of these
entities that does not correspond to their mission.
Sector Committees are in difficulty regarding their
sustainability and capacity to produce Occupational
Standards and other deliverables, required to support
the transfer of information from the sector of economy
to the education sector [12, p.2].
Another important mechanism of interaction
at central level between education and economic
systems must be ensured by the National VET Centre
(Republican Centre of Professional Education
Development). The mission of this entity, according to
its regulation, is to ensure informational and analytical
support for the interaction between the labor market
and vocational sector [13, p.1]. Its role was foreseen in
the field of research and labor market analysis with
subsequent transfer of information for the adjustment
of the educational curriculum [14]. Currently, the
centre has a more important task related to the
coordination of the work of Sector Committees and
development of skills for fulfilling their functions. In
other countries a lot of support in this sense is provided
Institutes for Scientific Research with the budget
supported by the state.
At present, the Centre is located in the
Institute of Education Sciences, lacking the necessary
institutional hierarchy to make the connection between
the Ministry of Labour, Social Protection and Family,
Ministry of Economy and Ministry of Education. For
this reason, the basic task cannot be performed to the
level of expectations. The Centre is rather an entity of
support for the development activities run by the
Ministry of Education.
Another level of interaction between
education and economy could be performed by the
Local Public Administration at the regional level.
This way of organization exists in many countries. The
main argument for the administration at local level the
vocational education institutions lies in the fact that at
the local level are better known the specific aspects and
local businesss needs. Organizing the management of
degrab o entitate de suport n procesele de elaborare din

cadrul Ministerului Educaiei.
Un alt nivel de interaciune dintre educaie i
economie se realizeaz de ctre Administraia Public
Local de la nivel de raion. Aceast modalitate de
organizare exist n multe ri ale lumii. Argumentul de baz
pentru administrarea instituiilor profesional-tehnice la nivel
local const n faptul c, la nivel teritorial, se cunosc mai
bine particularitile i necesitile agenilor economici
locali. Organizarea administrrii reelei de instituii de PT la
nivel de raion este o provocare pentru sistemul profesionaltehnic din Republica Moldova. Cu toate, acestea,
interaciunea colii cu administraia public local i agenii
economici din regiune ar putea forma nc un mecanism
viabil de interaciune dintre sistemul de educaional i cel
economic. Totui, trebuie menionat c prezena
administraiei publice locale n implementarea acestui model
de formare profesional nu este att de principial, ca n
cazul modelului ntreprinderii n cadrul colii.
La nivel instituional, interaciunea cu agentul
economic este realizat cu scopul de identificare i plasare
a elevilor/studenilor pentru stagii practice. Directorii
instituiilor sunt obligai s identifice locuri de practic
pentru studenii lor n cadrul ntreprinderilor. Acesta este
unicul i principalul mecanism de interaciune dintre
educaie i sectorul real al economiei la nivel instituional.
ns, n cadrul acestui model, se propune extinderea rolului
unor instituii de PT, care sunt specializate n anumite
domenii ale economiei i pot realiza rolul de lider din
partea mediului colar pentru participarea la procesele de
elaborare n parteneriat cu mediul de afaceri i identificarea
locurilor pentru stagii practice pentru elevii/studenii din
reea, nu doar pentru propria instituie, ci i pentru cele
specializate n acelai domeniu.
Avantajele
modelul
instituionalizrii
mecanismelor de interaciune
Acest model se construiete pe dezvoltarea
mecanismelor de dialog social, n care fiecare din pri are
responsabiliti proprii. Cel mai important avantaj al
acestui model este legat de faptul c, n sistemul de PT i
n cadrul companiilor, nu se produc schimbri majore, aa
cum prevd modelul de nvmnt dual i modelul
ntreprinderii n cadrul colii.
Avantajul de care beneficiaz statul n cadrul
modelului instituionalizrii mecanismelor de interaciune se
va resimi n timp. Structurile statului trebuie s fac eforturi
mai mari dect nainte pentru a comunica cu o mai mare
frecven i mai eficient cu agenii economici privind
necesitatea i msurile de cretere a calitii forei de munc.
Avantajul de care se bucur companiile este legat
de faptul c acestea vor beneficia de for de munc calificat.
Faptul c nsei companiile vor participa la crearea Cadrului
Naional al Calificrilor sporete ansele formrii unei fore de
munc conform rigorilor stabilite de agenii economici. Acest
instrument este esenial pentru dezvoltarea unei piee
europene de ocupare a forei de munc [15].
Avantajul de care beneficiaz elevii/studenii
const n faptul c formarea profesional se va face n
VET network of institutions at local level is a challenge

for Moldova. However, the interaction of VET schools
with local public administration and local businesses
could form a viable mechanism of interaction between
education and economic system. On the other hand, it
should be mentioned that the involvement of local
government in implementation of interaction
mechanisms between education and economy during
the reform process in VET system could be difficult.
But this aspect should be revised after the
implementation of main aspects of the reform, since
this could be one of best solutions for raising the
profile of VET schools at local level.
At institutional level, interaction of VET
schools with economic agents is done with the purpose
of identification and placement of students in
apprenticeship. The managers of institutions are
obliged to identify apprenticeship placements within
enterprises. This is only and main mechanism of
interaction of education with real sector of economy at
institutional level. The role of some schools will be
extended and they will become leaders on the behalf of
education system that will participate at the
development processes in partnership with business
representatives for carrying out the function of
development of Professional Qualifications, curricula,
manuals and guidelines. They will also perform the
task of identifying the apprenticeship places for
students for the other VET institutions that have the
same profile.
The
advantages
of
institutionalizing
mechanisms of interaction
This model is built on development of social
dialogue mechanisms in which each party has their
own responsibilities. The most important advantage of
this model is related to the fact that in VET system and
in companies there are no major changes as required in
dual educational model and economic activity in the
school model.
The advantage enjoyed by the State from
the institutionalization of mechanisms of interaction
between economy and education will be felt over time.
State structures must make greater efforts than before
to communicate with greater frequency and more
efficiently with economic agents regarding the
measures for increasing the quality of the workforce.
The advantage enjoyed by economic agents
(companies) is related to the fact that they will benefit
from skilled labour force. The fact that the companies
themselves will participate in the creation of the
National Qualifications Framework, creates more
chances regarding the formation of a labour force
according to the requirements established by
employers. This tool is essential for developing a
European labour market [15].
The advantage enjoyed by students lays in
the fact that due to the interaction between the entities
responsible for various sectors of the economy and the
27
condiiile n care, datorit interaciunii dintre entitile

responsabile de diverse sectoare ale economiei i sistemul
educaional, se vor identifica locuri eficiente pentru stagiile
practice. Rolul stagiilor practice va fi neles mai bine de
agenii economici i de structurile de formare profesional
i, respectiv, atitudinea fa de stagiari va fi una pe msur
s contribuie la dezvoltarea abilitilor profesionale.
Formarea profesional n baza Cadrului Naional al
Calificrilor ofer o anumit garanie a calitii
profesionale i posibilitate de recunoatere a calificrii n
spaiul european.
Dificulti i eforturi de implementare a modelului
instituionalizrii mecanismelor de interaciune
Problemele
modelului
instituionalizrii
mecanismelor de interaciune sunt axate, n principal, pe
necesitatea crerii sau consolidrii capacitilor structurilor
nou-create, finanate din bugetul de stat.
Este important ca Consiliul Coordonator Naional
de Dezvoltare a nvmntului Profesional s devin o
structur funcional. Este necesar crearea Ageniei
Cadrului Naional al Calificrilor. Statutul legal actual al
Comitetelor Sectoriale este nesatisfctor pentru mandatul
pe care l au. Centrul Republican pentru Dezvoltarea
nvmntului Profesional trebuie s dobndeasc
competene pentru a reui s-i realizeze misiunea de
coordonare i promovare a dialogului social la nivel de
comitete sectoriale i ministere de resort, precum i ageni
economici lideri n domeniile economiei naionale.
Concluzii. Analiza ofertei educaionale a
sistemului de PT scoate n eviden faptul c att calitatea,
ct i cantitatea ofertei educaionale nu rspunde cerinelor
pieei muncii. Cauzele dezechilibrului dintre oferta
educaional format n nvmntul profesional-tehnic i
cererea forei de munc sunt legate de deficienele
sistemului de formare profesional, particularitile
economiei naionale, precum i de lipsa instrumentelor de
interaciune dintre sistemul educaional i cel economic.
Contientizarea importanei nfiinrii i consolidrii
entitilor responsabile de dialogul social pe sectoare ale
economiei, va determina capacitatea de interaciune dintre
sisteme, care trebuie s se realizeze:
la nivel central, prin intermediul urmtoarelor
entiti: Consiliul Naional Coordonator
pentru nvmntul Profesional, Ministerul
Educaiei, MMPSF, Ministerul Economiei i
ministerele de resort, Centrul Republican de
Dezvoltare a nvmntului Profesional,
Agenia Cadrului Naional al Calificrilor,
Agenia Naional pentru Asigurarea Calitii
n nvmntul Profesional;
la nivelul autoritilor administraiei publice
locale de nivelul II (raionale) prin
intermediul Consiliilor Raionale i Direciilor
Educaie, Tineret i Sport;
la nivel sectorial prin intermediul
Comitetelor Sectoriale din diverse domenii
ale economiei naionale, care ntrunesc
reprezentani ai patronatelor, sindicatelor i
28
education system, better apprenticeship and job

placements will be identified. The role of practical
training will be better understood by the companies and
the training bodies, respectively the attitude regarding
the trainees will contribute to the development of
professional skills. Training under the National
Qualifications Framework provides some guarantee of
quality and the possibility of recognition of
professional qualifications in European counties.
Difficulties and efforts in implementation of
the mechanisms of interaction between economy and
education
The
problems
of
institutionalizing
mechanisms of interaction are mainly focused on the
need of creating new structures or building capacities
of newly created structures, as well as providing funds
from the state budget for running these institutions.
In this context, National VET Council should
become a functional structure. It is important to create
the National Qualifications Framework Agency. The
current legal status of Sector Committees is
unsatisfactory for the mandate they have. In this
regard, it should be revised and legislation should be
changed. National VET Centre should acquire skills in
order to successfully achieve the mission of
coordination and promotion social dialogue with Sector
Committees, line ministries, as well as economic
leaders in different fields of national economy.
Conclusions. Analysis of the educational
offer of VET system highlights the fact that both the
quality and quantity of educational offer does not meet
the labour market needs. The causes of imbalance
between labour market demand and supply are linked
to deficiencies of the VET system, specific aspects of
national economy and the lack of instruments of
interaction between education and the economy.
Awareness regarding the importance of establishing
and strengthening social dialogue will determine the
capacity of interaction between systems, which must be
done:
at the central level through the following
entities: the National VET Council,
Ministry of Education, MLSPF, Ministry
of Economy and line ministries, National
VET Centre, Agency for National
Qualifications Framework, the National
Agency for Quality Assurance in
Professional Education;
at the level of local public administration
level through Rayon Councils and
Departments of Education, Youth and
Sport.
at sector level through the Sector
Committees in all the fields of national
economy that meet representatives of
employers, trade unions and ministries;
at institutional level through the Centres of
Excellence - leading institutions in the
ministerelor de resort;
la nivel instituional prin intermediul Centrelor
de excelen instituii lider n diverse domenii
ale economiei naionale i prin intermediul
directorilor instituiilor care stabilesc relaii de
colaborare cu agenii economici.
fields of national economy and by

directors of institutions that establish
collaboration relationships with economic
agents.
1. ATCHOARENA D. i CAILLODIS F., O nou perspectiv privind nvmntul profesional i tehnic n
Romnia, Chiinu: Business-Elita, 2006, p.60
2. HOLMES K., Reforma instituiilor publice de nvmnt tehnic i profesional tehnic, Chiinu: BusinessElita, 2006, p.69
3. ERBAN M., O nou perspectiv privind nvmntul profesional i tehnic n Romnia, Chiinu:
Business-Elita, 2006
4. ATCHOARENA D. i CAILLODIS F., O nou perspectiv privind nvmntul profesional i tehnic n
Romnia, Chiinu: Business-Elita, 2006, p. 153
5. EANU I., Diversificarea nvmntului secundar profesional n tranziie la economia de pia. Chiinu:
Valinex S.A., 2001, p18
6. http://en.wikipedia.org. [Online]. http://en.wikipedia.org/wiki/Dual_education_system
7. http://en.wikipedia.org.[Online]. http://en.wikipedia.org/wiki/Vocational_education#South_Korea
8. EANU I., Diversificarea nvmntului secundar profesional n tranziie la economia de pia. Chiinu:
Valinex S.A., 2001, p.19
9. Anexa nr.1 la Hotrrea Guvernului nr. 97 din 1 februarie 2013. Strategia de dezvoltare a nvmntului
vocaional/tehnic pe anii 2013-2020. [Online].
http://www.edu.md/file/Str_2013-2020.pdf, p.8
10. Proiectul Educaie 2020. Strategia sectorial de dezvoltare pentru anii 2014 2020. [Online].
http://particip.gov.md/public/documente/137/ro_1112_Educatia-2020.pdf, p.8
11. Regulamentul Consiliului Coordonator Naional n domeniul nvmntului profesional tehnic. [Online].
http://particip.gov.md/proiectview.php?l=ro&idd=1938
12. Regulamentul-cadru. Privind activitatea Comitetului Sectorial n formarea profesional i modul de
elaborare a standardelor ocupaionale la profesiile muncitoreti. [Online], p.2
http://www.mmpsf.gov.md/file/proiecte/Proiect_hot_Metodologia_SO_Guvern_2011.pdf
13. Regulamentul Centrului Republican de Dezvoltare a nvmntului Profesional, p.1
14. Propunerea de Politic Public iniiat de Ministerul Educaiei: nvmntul secundar profesional
competene adaptate pentru piaa muncii. [Online].
file:///C:/Users/Admin/Downloads/1295420_md_ppp_med_compet%20(1).pdf
15. Recomandarea Parlamentului European i a Consiliului din 23 aprilie 2008, Privind stabilirea Cadrului
european al calificrilor pentru nvarea de-a lungul vieii, 6.5.2008.
29
DEZVOLTAREA CALITII
SERVICIILOR TURISTICE N
CONDIII DE GLOBALIZARE A
TURISMULUI
DEVELOPMENT OF THE
TOURISM SERVICE QUALITY
UNDER TOURISM
GLOBALIZATION
Drd., Irina ROITMAN, ASEM

Director al Ageniei turistice Racurs-Tur
PhD student Irina ROITMAN, ASEM

Director of Tourism Agency Racurs-Tur
Industria contemporan a turismului este n

proces de globalizare. Acest fapt determin dezvoltarea
conceptului, standardelor i a metodologiei de estimare
a calitii serviciilor turistice. Autoarea investigheaz
situaia actual cu privire la astfel de dezvoltri
teoretico-metodologice i aplicative, ceea ce este
important s se aib n vedere att la nivel
internaional, ct i naional al turismului pentru a fi
competitiv pe piaa aflat n condiii de globalizare.
Cuvinte-cheie:
globalizarea
turismului,
calitatea serviciului turistic, standarde ISO n turism,
modelul GAP, SERVQUAL, zona toleranei.
JEL: B4, F2, F6
Contemporary tourism industry is in the

process of globalization. This fact determines the
development of the concept, standards and
methodology of estimating the quality of tourism
services. The author investigates the current state of
affairs related to the theoretical, methodological and
applicative developments which are important issues
to be taken into account for both, international and
national, tourism in order to be competitive in a
market under globalization.
Key words: tourism globalization, tourism
service quality, ISO standards in tourism, Gap model,
SERVQUAL, tolerance zone
JEL: B4, F2, F6
Introducere. Globalizarea turismului rezid n

megatendina socio-economic de globalizare i
reprezint un stadiu superior al internaionalizrii
industriei turistice. Dup cum s-a specializat n
Raportul Organizaiei Mondiale a Turismului, ediia
2015, turismul a continuat s fie fora motrice
principal a redresrii economice globale i
contribuitorul vital la crearea locurilor de munc,
eradicarea srciei (I.R.), relaxare, protecia mediului
ambiant, pace multicultural i nelegere pe glob [1].
Turismul a devenit o parte integrat i chiar
preponderent a economiei globale, contemporane.
Acesta constituie 9% din PIB mondial, 1,4 milioane de
dolari n exporturi, 1 din 11 locuri de munc revine
industriei turistice. El manifest o tendin ferm de
cretere. Din 1950 pn n 2013, numrul turitilor
internaionali a crescut de la 25 milioane pn la 1087
milioane [2].
n 2014, peste 1,1 miliarde (1, 138 mln) turiti
au cltorit la nivel internaional, ceea ce reprezint o
majorare cu 4,7% fa de anul precedent (cu 51 mln mai
mult dect n 2013) [3]. Numrul ncasrilor provenite
de la turismul internaional a atins 1,197 miliarde de
dolari SUA n 2013, ceea ce este cu 230 miliarde de
dolari SUA mai mult, n comparaie cu anul pre-criz
2008 [ibid.]. n 2014, ncasrile din turismul
internaional au crescut cu 48 miliarde de dolari SUA,
atingnd un prag-record de 1,245 de miliarde de dolari
SUA, iar 221 miliarde de dolari suplimentare au fost
generate de transportul internaional al pasagerilor, fapt
ce s-a soldat cu exporturi totale ale turismului
internaional pn la 1,5 trilioane de dolari SUA [4]. n
acest context, suntem de aceeai prere cu cercettorii
turismului internaional Salvo Creaco i Giulio Querini,
30
Introduction. Tourism globalization is in the

mainstream of general socio-economic globalization
megatrend, and represents the highest stage of
internationalization of tourism industry. In the World
Tourism Organization Report 2015 it has been stated
that tourism continued to be a key driver of the
global economic recovery, and a vital contributor to
job creation, poverty alleviation, environmental
protection and multicultural peace and understanding
across the globe [1]. Tourism has become an
integrated and even one of the leading parts of the
contemporary global economy. It constitutes 9% of
world GDP, 1, 4 trillion in exports, 1 in 11 jobs
belongs to the tourism industry. In manifests a sound
trend of growth. Beginning with 1950 to 2013 the
number of international tourists increased from 25
million to 1087 million [2].
In 2014 over 1.1 billion (1,138 million) tourists
travelled internationally, that is 4,7% increase over the
previous year (51 million more than in 2013) [3].
Receipts in destinations from international tourism
reached USD 1.197 billion in 2013 that is USD 230
billion more compared to pre-crisis year 2008 [ibid.]. In
2014 international tourism receipts increased by USD 48
billion and reached a record USD 1,245 billion. An
additional USD 221 billion was generated from
international passenger transport, bringing total exports
from international tourism up to USD 1, 5 trillion [4]. In
this context, one may agree with the international
tourism researchers Salvo Creaco and Giulio Querini
who sustained that tourism of today is one of the
worlds largest industries and one of its fastest growing
economic sectors [5]. The issue of sustainable
care au susinut c turismul de astzi reprezint una

din cele mai mari industrii ale lumii i una din cele mai
crescnde sectoare economice ale acesteia [5]. Faptul
creterii durabile i al globalizrii turismului determin
dezvoltarea conceptului, standardelor i a metodologiei
de evaluare a calitii serviciilor turistice.
Scopul prezentului articol const n elucidarea i
analiza situaiei referitoare la astfel de dezvoltri
metodologice, deoarece acestea sunt extrem de actuale
pentru a nelege mbuntirile realizate n industria
turistic la nivel internaional i direcia de
perfecionare a acestei industrii n Republica Moldova,
cea din urm aflndu-se n proces de integrare turistic
regional i global.
De ce dar problema calitii serviciilor turistice
constituie o problem valoroas pentru investigare?
Anual, mii de turiti de pe tot globul se confrunt cu
ceea ce poate fi caracterizat ca un nivel sczut al
calitii serviciilor turistice: deservirea proast ntr-un
hotel (ceea ce reprezint necorespunderea categoriei
atribuite hotelului); problema transferului (unele
dereglri n serviciu de deplasare a unui turist de la
locul venirii n ara-gazd la locul destinaiei finale);
unele probleme cu privire la perfecionarea
documentelor (informaie eronat sau incomplet, nu
este prezentat la timp) etc.
Din an n an, numrul total al operatorilor
turistici, att n economia mondial, ct i n Republica
Moldova, este n cretere. ns nu toi nou-veniii pe
piaa turistic sunt n stare s presteze serviciile de
calitate superioar. Totodat, anume, aprecierea calitii
serviciilor prestate va duce la satisfacia consumatorilor,
succes, competitivitatea i durabilitatea companiei
turistice, precum i a ntregii industrii.
Calitatea serviciilor turistice, n prezent, este
influenat, preponderent, de procesul de globalizare. n
primul rnd, acesta se refer la internaionalizarea fr
precedent a tuturor tipurilor de servicii turistice i
conexe (de transport, hoteliere, de alimentaie public
etc.), crearea reelelor respective integrate, apariia
companiilor transnaionale care presteaz o varietate
larg a serviciilor turistice de calitate nalt cu preuri
sczute i care, n acelai timp, contribuie la formarea
perceperii generale a calitii unor servicii turistice. n
al doilea rnd, globalizarea industriei turistice
determin apariia necesitii elaborrii i perfecionrii
standardelor internaionale de calitate i, apoi, globale,
ceea ce este semnificativ pentru dezvoltarea industriei
vizate, deoarece perceperea calitii unor servicii n
turism este, uneori, greu de estimat, fiindc aceast
percepere este mai mult relativ, dect absolut, ea
depinznd mult de originea i mediul cultural,
educaional, socio-economic, informaional i chiar
politic al consumatorilor.
1. Conceptualizarea calitii serviciilor
turistice. Calitatea serviciilor turistice reprezint o
noiune complex, care ntrunete mai multe aspecte ale
serviciilor prestate, cum ar fi transportarea, cazarea,
growth and globalization of tourism determines the

development of the concept, standards and methodology
of evaluation of the quality of touristic services.
The purpose of the article is to highlight and
analyse the state of affairs related to these
methodological developments, because they are
highly actual for the understanding of improvements
in tourism industry at the international level and the
direction for improvement of this industry in the
Republic of Moldova, the latter being in the process
of regional and global tourism integration.
Why does the problem of quality of touristic
services represent a problem worthy to investigate?
Annually thousands of tourists all over the world face
with what they may perceive as a low quality level of
tourism services: bad hotel service (noncorrespondence of a hotel to its attributed category),
transfer problem (some dysfunctions in a service for
carrying a tourist from a place of his/her arrival to a
hosting country up to final destination), problems
related to working out the documents (mistaken or
incomplete information, not on time), etc.
From year to year, a total number of tour
operators worldwide and in the Republic of Moldova
has been increasing. But not all the newcomers in the
tourism market are able to render the services of a
high quality. At the same time, namely the quality
appreciation of the provided services will lead to the
satisfaction of customers, and to the success,
competitiveness and sustainability of a tourism
company as well as the whole industry.
The quality of touristic services is currently
very much influenced by the process of globalization.
First of all, it refers to the unprecedented
internationalization of all kinds of touristic and
related services (transport, hotel, food industry etc.),
creation of the respective integrated networks,
appearance of transnational companies which allow
providing the variety of touristic services of higher
quality but lower price and which, at the same time,
contribute to the shaping of a touristic service quality
general perception. Secondly, globalization in tourism
industry determines the necessity of elaboration and
perfection of the international, and then global,
standards of quality, what is important for the
industry development as the perception of quality of a
service; here is sometimes difficult to assess, because
it is rather relative than absolute, it depends very
much on cultural, educational, socio-economic,
informational and even political background of
customers.
1. Conceptualization of quality of touristic
services. The quality of touristic services is a complex
concept which is composed by the qualities of number
of provided touristic and related services like
transportation,
accommodation,
nutrition,
organization of leisure, entertainment etc. In
specialized literature on international tourism, the
31
hrnirea, organizarea odihnei, distracia etc. n literatura

specializat referitoare la turismul internaional,
conceptul de calitate a serviciilor turistice mai rmne
n centrul discuiilor, fapt ce poate fi explicat prin
diferena dintre ateptrile culturale, precum i
abordrile produselor turistice.
n condiii de globalizare, ns, s-a conceput
ideea, destul de universal, a calitii unor servicii, n
general, care este adecvat, dup cum cunoatem din
experien, i pentru serviciul turistic: corelarea
ateptrilor consumatorului cu perceperea sa a
serviciului consumat [2, p.90]. Cu alte cuvinte, un
serviciu turistic se consider calitativ, dac nu exist
discrepan ntre ateptrile unui consumator i
aprecierile referitoare la performana acestui serviciu.
Dup prerea noastr, aceasta poate fi considerat o
abordare absolut a calitii serviciilor turistice,
deoarece o asemenea definiie reflect att esena, ct i
independena de origine, mediu cultural, socioeconomic sau de alt natur a clientului.
Conceptualizarea vizat s-a efectuat n baza modelului
GAP [7] care va fi prezentat mai jos, n cadrul elucidrii
metodologiei cu privire la calitatea serviciilor turistice.
Printr-un serviciu turistic, de regul, se percepe
un ansamblu de activiti, destinat satisfacerii nevoilor
corespunztoare ale unui turist prin intermediul
interaciunii dintre executorul i consumatorul
serviciului n procesul prestrii acestuia.
Calitatea serviciului turistic poate fi perceput
ca un ansamblu de caracteristici ale serviciilor turistice,
proceselor i condiiilor direcionate spre satisfacerea
nevoilor actuale sau a celor ateptate ale turitilor n
timpul odihnei, cltoriei lor etc. [8].
n contextul dat, este rezonabil de accentuat c,
odat cu abordarea absolut a accepiei calitii unor
servicii turistice, format ca aspiraie spre perceperea
n comun a noiunii vizate n economia mondial n
globalizare, ar trebui s se ia n considerare un ir de
factori, care, n mod inevitabil, transform conceptul
de calitate a serviciului turistic ntr-unul relativ. n
primul rnd, ar trebui s se refere la diferitele puteri de
cumprare ale consumatorilor pe piaa turistic.
Calitatea produsului sau a serviciului turistic ar trebui
s fie echilibrat cu valoarea acestuia. n contextul dat,
s-ar putea zice despre calitatea optim a unui produs
sau serviciu turistic c este determinat de
solvabilitatea clienilor segmentului de pia
corespunztor. n al doilea rnd, este, de fapt,
imposibil estimarea calitii produsului sau
serviciului turistic nainte de cumprarea i
consumarea acestuia. Pentru a da imbold creterii
calitii serviciilor turistice n viitor, o atenie
deosebit ar trebui s fie acordat, deci, imaginii unei
companii turistice, a prestigiului serviciilor acestei
companii pe pia. Cel de-al treilea factor, de care
trebuie s se in cont la estimarea calitii serviciilor
turistice ale unei companii, se refer la astfel de clieni
care nu sunt rar ntlnii: clienii, care, de fapt, nu tiu
32
concept of quality of touristic services is still under

discussion, this fact that can be explained by
differences in cultural expectations and approaches to
the touristic products.
Under globalization, however, more or less
universal meaning is attributed to the quality of a
service which is appropriate, as the experience shows,
to the touristic service as well: the correlation of
consumers expectations with the perception of a
service received [2, p.90]. In other words, a touristic
service is regarded to be of quality if there is no gap
between an expectation of a consumer and his/her
appreciation of the service performed. To our mind,
this can be considered as an absolute approach to the
quality of touristic service since such a definition
reflects the essentials independently of a cultural,
socio-economic or any other background of a client.
This conceptualization is made on the basis of the
Gap model [7] which will be addressed below as a
part of the touristic service quality methodology.
By a touristic service it is usually understood
the complex of activities with the purpose of
satisfaction of the corresponding needs of a tourist by
the means of interaction of an executor and a
consumer in the process of the service provision.
Quality of touristic service can also be
understood as a combination of properties of touristic
services, processes and conditions directed to satisfy
the actual or expected needs of tourists in time of
their rest, travel etc. [8].
Here it is reasonable to emphasize that,
alongside with its absolute approach to the
meaning of a touristic service, quality being shaped
as an aspiration to common understanding in the
globalized world economy; one has to bear in mind
number of factors which inevitably turn the concept
of a touristic service quality into a relative one.
First all, one may refer to the different purchasing
power of the customers at touristic market. The
quality of a touristic good or service should be
balanced with its value. In such a context one may
say about an optimal quality of a touristic good or
service which is determined by the solvency of
clients of the corresponding market segment.
Secondly, it is, in fact, impossible to estimate the
quality of a touristic good or service before its
purchasing and consumption. To induce the
expectation of quality of a future touristic service,
the special attention has to be paid, hence, to the
image of a touristic company at a market, to the
prestige of its services. The third factor to bear in
mind when estimating the quality of a companys
touristic services is referred to such clients, who
are not rare to meet: the clients who do not really
know where to go and what to expect. In order to
render a quality service for these clients, a tourist
operator should become a kind of researcher who
investigates the needs, tastes, possibilities of these
unde s se duc i la ce s se atepte. Pentru a presta

un serviciu de calitate unor asemenea clieni,
operatorul turistic ar trebui s devin un fel de
cercettor care investigheaz nevoile, gusturile i
posibilitile acestor clieni particulari, ceea ce este
indisolubil legat de mai multe investiii ale diferitelor
resurse (de timp, umane, financiare etc.) n
operaiunile turistice cu scopul evidenierii nivelului
respectiv de calitate pentru clienii vizai. ntr-o
perioad de lung durat, ns, astfel de investiii vor
consta, cu precdere, n creterea profitului companiei,
datorit extinderii segmentului de pia i a acumulrii
de capitaluri umane i intelectuale. nc un factor
semnificativ, ce manifest impact asupra perceperii
calitii unui serviciu turistic, const n lipsa
coincidenei n timp a faptului de vindere a serviciului
turistic i de consumare a acestuia n viitor. Serviciile
turistice sunt cumprate cu cteva zile, sptmni sau
chiar luni nainte de consumarea lor. Pentru a crea
percepia beneficiilor ce pot fi obinute n viitor, ar
trebui s se acorde o atenie special publicitii,
informaiei n mass-media, posibilitilor de cercetare
n Internet. n acelai timp, n condiii de incertitudine
ale economiei globale, cnd atacuri teroriste, revolte
politice, colapsul economic, situaia epidemiologic
sau catastrofa natural pot s se produc la locul de
consumare a serviciului turistic procurat, aceasta, fr
doar i poate, va influena perceperea calitii
serviciului ntrebuinat de ctre consumator, dar nu ar
trebui s fie asociat cu imaginea companiei turistice
care a prestat serviciul respectiv. n cazul n care
compania turistic posed vreo informaie privind
situaia periculoas la locul de destinaie, ea ar trebui
s informeze clientul care i procur serviciul,
deoarece, n cazul dat, sesiunea de informare devine o
component esenial a calitii serviciilor prestate.
Pentru a dezvlui, menine i dezvolta calitatea
serviciilor turistice n scopul ridicrii competitivitii
unei companii turistice, o deosebit actualitate n
economia
global
contemporan
o
prezint
managementul calitii al serviciilor turistice, care se
refer la procesul ce include dezvluirea caracterului i
volumului nevoilor n servicii turistice, estimarea
nivelului lor de calitate, precum i elaborarea i
realizarea activitilor, direcionate spre asigurarea
nivelului planificat de calitate[8].
2. Standardizarea n calitatea serviciilor
turistice. Pentru a asigura interaciunea participanilor
la piaa turistic, n mod armonios i contient, mai ales
a operatorului turistic i a clientului lui, alturi de acte
legislative, e important standardizarea serviciilor
prestate. Aceast nevoie de standardizare devine
deosebit de actual n condiii de globalizare i
informatizare, deoarece aceste megatendine, pe de o
parte, asigur schimbul informaional global cu privire
la prestarea serviciilor turistice i particularitile
acestora, pe de alt parte, genereaz procesul de
standardizare att n nelesul calitii serviciilor
particular clients. It is inevitably linked with higher

investment of various resources (time, human,
financial etc.) in this touristic operation for being
able to figure out the quality relevant for such
clients. For long run, however, these investments
will necessarily lead to increase of the companys
gains due to the enlargement of market segment
and accumulation of human and intellectual
capitals. One more important factor which produces
its impact upon the perception of quality of a
touristic service is the lack of coincidence in time
of the fact of selling the touristic service and its
consumption in future. The touristic services are
purchased some days, weeks or even months before
their consumption. To create the perception of
benefits which can be received in future, one
should pay a special attention to advertising, massmedia information, possibilities of internet search.
At the same time, under uncertainties of the global
economy, when a terrorists attack, political
upheaval, economic collapse, epidemiologic
situation or a natural disaster can take place while
the purchased touristic service is being consumed,
it will influence, for sure, upon the perception of
the quality of the consumed service by the
customer but should not definitely be associated
with the image of the touristic company which has
provided the service. In case the touristic company
possesses the information regarding the dangerous
situation in the place of destination, it should
necessarily inform the client who purchases its
service as, in this case, an information session
becomes an essential component of the quality of
the provided services.
In order to reveal, maintain and develop the
quality of touristic services with the purpose of
increasing the competitiveness of a tourism company,
it becomes highly actual in contemporary global
economy the development of quality management of
touristic services that refers to the process which
includes the revealing the character and volume of
needs in touristic services, estimation of their factual
level of quality as well as the elaboration and
realization of activities directed to ensure the planned
level of quality [8].
2. Standardization in quality of touristic
services. In order to ensure harmonization and
conscientious interaction of the tourism market
participants, especially of a tourism operator and its
client, alongside with legislative acts, there is a need
in standardization of the provided services. This
need becomes especially significant under
globalization and informatization megatrends which,
on the one hand, ensure the global information
exchange regarding the provision of touristic
services as well as their peculiarities, on the other
hand, generate the standardization process in both
touristic service quality meaning and consumer
33
turistice, ct i n preferine i cereri. n afar de aceasta,

megatendinele vizate determin dezvoltarea calitii
serviciilor turistice, datorit procesului de standardizare
internaional, armoniznd diferitele standarde
naionale.
Ca obiect al standardizrii, un serviciu,
inclusiv cel turistic, reprezint o chestiune
problematic, fiindc mai multe componente ale unui
astfel de serviciu sunt greu de cuantificat. n majoritatea
cazurilor, deci, raionamentul expertului i studiul
sociologic sunt utilizate pentru a investiga opinia
consumatorilor referitoare la calitate. Cu toate aceste
obstacole, standardizarea n turism permite orientarea n
comun a consumatorului i prestatorului serviciilor
privind calitatea. Procesul se globalizeaz i presupune
stabilirea normelor n prestarea serviciilor, inclusiv
probleme de securitate, concordana dintre prile
legislative i normative, n terminologie i clasificare,
precum i stabilirea cerinelor pentru personal i a
condiiilor de serviciu.
Obiectivul principal al procesului de
standardizare a serviciilor const n elaborarea
cerinelor pentru anumii indicatori de calitate, luai
aparte pentru fiecare serviciu, pe care companiile
turistice le ofer pe piaa global.
Organizaia internaional (ISO), ce activeaz
ncepnd din anul 1947, este una din cele mai
semnificative instituii ale economiei mondiale, care se
ocup cu elaborarea standardelor internaionale,
inclusiv pentru turism. Ajustarea standardelor
internaionale n turism comport un caracter benevol.
Standardele conin specificrile actuale cu privire la
servicii i practici de anvergur. De asemenea, ele
contribuie la prestarea serviciilor mai efectiv, precum
i la creterea procurrii produselor turistice.
n standardele ISO 90004-2-94 Management
general al calitii i elemente ale sistemului de calitate.
Partea a doua. Indicaii ndrumtoare la servicii, se pot
gsi dou tipuri de caracteristici ale calitii unui
serviciu. Primul tip se refer la caracteristicile
cantitative: timpul de ateptare a unui serviciu;
descrierea
echipamentului,
instrumentelor
i
materialelor; ncredere; punctualitate n execuie;
completitudinea unui serviciu; siguran; nivel de
mecanizare i automatizare. Cel de-al doilea tip se
refer
la
caracteristicile
calitative:
politee;
disponibilizarea personalului; ncrederea n personal;
nivelul de miestrie; confortul i estetica; eficacitatea
contactelor dintre executant i clieni [9; 10].
Din ansamblul standardelor ce depesc cifra
19500, precum i al comitetelor care se ocup cu
elaborarea anumitor standarde, gsim de cuviin s
menionm Comitetul ISO/TC228, responsabil anume
pentru standardizarea n turism i servicii asociate
[15]. Subcomitetele sau grupurile de lucru remarc
standardele pentru diferite servicii din domeniu
(tabelul 1).
34
tastes and demands. Besides, these megatrends

condition the development of touristic service
quality due to the international standardization
process as the various national standards are being
harmonized.
As an object of standardization a service,
including the touristic one, is a problematic issue,
because many components of a service are difficult
to be quantified. In majority of cases, so far, the
expert judgment and sociological review are used to
study the consumers mind regarding quality. In
spite of these and other difficulties, the
standardization in tourism allows the common
orientation in quality for both consumer and service
provider. The process becomes globalized. It
presupposes norming the service provision, the
security issues included, as well as the concordance
in terminology and classification of legislative and
normative parts. It also entails setting requirements
for staff and service conditions.
The main task of the service standardization
consists in working out the requirements to the
particular quality indicators for each kind of service
which touristic companies offer at the global market.
The International Standard Organization (ISO)
which has been acting since 1947 is one of the most
significant institutions of the world economy that
deals with the elaboration of international standards,
including those for tourism.
The conformation to international standards in
tourism has a voluntary character. The standards
contain the actual specifications on services and
headmost practice. They also contribute to more
effective service rendering as well as to the increase
in purchasing of touristic goods.
In the standards ISO 90004-2-94 titled
General quality management and elements of
quality system. Part2. Leading indications on
services, one may find two types of service quality
characteristics. The first type refers to quantitative
characteristics: time of service expectation; the
description of equipment, tools and materials;
reliability; punctuality in execution; completeness of
a service; safety; level of automatization and
mechanization. The second type is about qualitative
characteristics: politeness; personnel availability;
trust in personnel; level of skill; comfort and
aesthetics; effectiveness of contacts between an
executor and the clients [9; 10].
From among the totality of standards which are
above 19500, and the committees which occupy with
working out the specific standards, there can be
distinguished the Committee ISO/TC 228 that is
responsible namely for standardization in tourism
and related services [11]. The subcommittees or
working groups specify the particular standards for
services in domain (table 1).
Tabelul 1/Table 1
Grupuri de lucru i profilurile lor pentru standardizare n turism / The working groups and their
profiles for standardization in tourism
Subcomitet/grup de lucru /
Subcommittee/working group
Profil de standardizare / Standardization profile
ISO/TC 228/WG 1
Scufundri subacvatice / Diving
ISO/TC 228/WG 2
Turism de sntate i servicii SPA / Health Tourism and SPA services
ISO/TC 228/WG 4*
Servicii golf / Golf-services
ISO/TC 228/WG 5
Plaje / Beaches
ISO/TC 228/WG 6
Zone naturale/protejate / Natural Protected Areas
ISO/TC 228/WG 7
Turism de aventur / Adventure Tourism
ISO/TC 228/WG 8
Iaht staiuni / Yacht harbors
ISO/TC 228/WG 9**
Turism industrial / Industrial Tourism
ISO/TC 228/WG 10
Locuine ecologic inofensive / Environmentally friendly

accommodation establishments
ISO/TC 228/WG 11
Servicii vase simple de cart / Bare boat charter services
ISO/TC 228/WG 12
Turism internaional de voluntariat / International volunteer tourism
Notes: *Lipsa numrului unui subcomitet se refer la statutul neactiv al acestuia / The lacking numbers
of subcommittees refer to their non-active status
** Statutul acestui subcomitet, n prezent, este suspendat/Its status is actually sustained
Sursa: adaptat de autor dup [12; 25] / Source: adapted by the author by [12; 25]
Grupurile de lucru, de asemenea, elaboreaz
standardele specifice fiecrui tip de serviciu turistic.
Standardele adoptate n mod oficial de turismul
internaional contemporan sunt expuse n [12]. n afar de
aceasta, este un ir de standarde ISO cu privire la calitatea
serviciilor turistice n curs de dezvoltare. Acestea vor fi
adoptate n conformitate cu agenda intern a Comitetului
ISO/TC 228. Ele sunt prezentate n tabelul 2.
Standardele ISO privind calitatea serviciilor
turistice adoptate, precum i cele n curs de dezvoltare,
produc un impact semnificativ asupra ramurilor turismului
contemporan prin faptul c impun aplicarea metodelor tot
mai progresiste ale prestrii serviciilor att n dimensiunea
tehnic, ct i calitativ.
De-a lungul standardelor ISO specifice menionate
mai sus, sunt cele generale, care, de regul, sunt utilizate
mpreun cu Standardele Comitetului ISO/TC 228 i care
asigur o organizaie cu recomandri i cerine de caracter
universal cu privire la calitatea serviciilor. Acestea sunt:
ISO 9000, Managementul calitii, ISO 50 001 Sisteme
de managementul energiei i ISO 14000 Managementul
mediului ambiant [vezi 14, 15, 16 pentru mai multe
detalii]. Se poate observa c, doar adoptnd toate acestea,
devine posibil abordarea corect i realizarea real a
calitii serviciilor turistice, precum i obinerea unei
poziii mai competitive pe piaa global.
The Subcommittees also elaborate the specific

Standards for each touristic service type. The standards
officially adopted in contemporary international
tourism are displayed in [12]. Besides, there are a
number of ISO standards for touristic service quality
under development. They have to be adopted with
accordance to the inner schedule of the Committee
ISO/TC 228. They are presented in the table 2.
The adopted, as well as those under
development, ISO touristic quality standards produce a
significant impact upon the contemporary branches of
tourism by the means of requiring more progressive
methods of service provision in both technical and
qualitative dimensions.
Alongside with the particular ISO standards
mentioned above, there are some general ISO standards
which are usually used together with those of the
Committee ISO/TC 228, and which provide an
organization with universal recommendations and
requirements regarding service quality: ISO 9000
Quality Management, ISO 50001 Energy
Management Systems and ISO 14000 Environmental
Management [see 14, 15, 16 for more details]. One
may notice that only adopting all these it is possible to
develop the real touristic service quality approach, and
become more competitive at a global market.
35
Tabelul 2 / Table 2
Lista standardelor ISO referitoare la calitatea serviciilor turistice n curs de dezvoltare /
The list of ISO touristic service quality standards under development
Cod/numrul
standardului i/sau
Titlul standardului i/sau proiectului / Title of Standard
proiectului /
Code/Number
and/or Project
of Standard and/or
Project
ISO/CD 11121
Servicii distractive de scufundare cerine fa de programele de antrenament

introductiv la aparate pentru respiraie subacvatic / Recreational diving services
Requirements for introductory training programmes to scuba diving
ISO/NP 13687-2
Turism i servicii asociate Iaht staiuni Partea a doua: cerine minime pentru
staiuni de nivel intermediar al serviciilor / Tourism and related services Yacht
harbours Part 2: Minimum requirements for intermediate service level harbours
ISO/NP 13687-3
Turism i servicii asociate Iaht staiuni Partea a treia: cerine minime fa de

staiuni de nivel ridicat al serviciilor / Tourism and related services Yacht harbours
Part 3: Minimum requirements for high service level harbours
ISO/DIS 13810
Servicii turistice Turism industrial Prestarea serviciilor / Tourism services

Industrial tourism Service provision
ISO/AWI TS 13811
Instruciuni cu privire la dezvoltarea specificrilor de mediu ambiant pentru locuine /

Guidelines on developing environmental specifications for accommodation
establishments
ISO/DIS 17679
Turism i servicii asociate Servicii de nfrumuseare i ntremare (SPA) Cerine

fa de servicii / Tourism and related services Wellness spa Service requirements
ISO/PRF 17680
Turism i servicii asociate Talasoterapie Cerine fa de servicii / Tourism and

related services Thalassotherapy Service requirements
ISO/PRF 18065
Zone naturale protejate servicii turistice pentru folosin public prestate de

Autoritile Zonelor naturale protejate Cerine / Natural Protected Areas Tourist
services for public use provided by Natural Protected Areas Authorities
Requirements
ISO/CD 24803
Servicii distractive de scufundare Cerine fa de prestatorii serviciilor de recreaie cu

aparate pentru respiraie subacvatic / Recreational diving services Requirements for
recreational scuba diving service providers
Sursa/Source: [13]
3. Metodologie de apreciere a calitii serviciilor
turistice. Pornind de la nelesul calitii unui serviciu
turistic drept corelare ntre ateptrile consumatorului i
perceperile lui/ei ale serviciului primit, n literatura
specializat contemporan, s-au dezvoltat cteva metode
de apreciere a calitii serviciilor: Modelul GAP,
instrumentul SERVQUAL i analiza Zonei de toleran.
Modelul GAP, la fel ca i instrumentul
SERVQUAL, au fost elaborate de cercettorii americani
A. Parasuraman, V. Zeithaml i L. Berry [7; 17]. Prin
analizarea calitii unui serviciu, ei au efectuat evaluarea
total a serviciului respectiv, prestat de o firm, estimarea
fiind rezultatul comparaiei performanei acestei companii
cu ateptrile generale ale consumatorului fa de
modalitile de performan, pe care trebuie s le
36
3. Methodology to measuring the touristic

service quality. Proceeding from the understanding of a
touristic service quality as a correlation between a
consumers expectations and his/her perceptions of a
received service, in contemporary specialized literature
there have been developed some basic methodological
instruments of service quality estimation such as the
Gap Model, the SERVQUAL tool and the Tolerant
Zone Analysis.
The Gap Model and the SERVQUAL tool have
been elaborated by American researchers A.
Parasuraman, V. Zeithaml and L. Berry [7; 17]. By
service quality they meant the overall evaluation of a
specific service delivered by a firm as an outcome of
comparing the companys performance with a
urmreasc o companie n industria vizat. Serviciul se

consider a fi de calitate n cazul n care nu exist
omisiune. Metoda permite obinerea unei viziuni generale
asupra procesului de prestare a unui serviciu [6; 7].
Aceasta, prioritar, se orienteaz la aprecierea calitativ a
procesului.
Instrumentul metodologic SERVQUAL (Service
Quality calitatea unui serviciu) se bazeaz pe aceeai
idee de calitate a unui serviciu ca un grad de discrepan
ntre ateptrile normative ale clientului fa de prestarea
lui i perceperile sale despre performana acestui serviciu
[17]. Metoda permite aprecierea cantitativ a calitii
serviciului prin intermediul elaborrii unui Indice de
Calitate a Serviciului (ICS). Prin urmare, cercettorii
americani au elaborat 10 dimensiuni de calitate a
serviciului, ale cror definiii sunt redate n tabelul 3.
customers general expectation of how the firm in that

industry should perform. A service is considered to be
of quality if there is no gap. The method allows
receiving a general overview on the process of service
provision [6; 7]. It is more oriented to the qualitative
estimation of the process.
The
SERVQUAL
(Service
Quality)
methodological tool is based on the same idea of the
service quality as the degree of discrepancy between a
clients normative expectation of a service provision and
his/her perception of the service performance [17]. The
method allows the quantitative estimation of service
quality by the means of elaboration of a Service Quality
Index (SQI). In doing so, the American researchers
have worked out 10 dimensions of service quality, the
definitions of which are given in the table 3.
Tabelul 3/Table 3
Definiiile dimensiunilor SERVQUAL / The Definitions of the SERVQUAL Dimensions
Dimension
Definition
1. Tangibilitate/
Tangibility
Elemente ce pot fi observate fizic: estetica construciilor fizice, instrumentelor,

angajailor i a subiectelor de comunicare/ Elements that can be observed physically:
The aesthetics of physical facilities, tools, employees, and communication items.
Capacitate de a furniza serviciile promise n mod convingtor (inspirnd ncredere n

firm I.R.). Aceast dimensiune include respectarea promisiunilor legate de ofert,
2. ncredere /Reliability stabilirea preurilor i gestionarea plngerilor / The capacity to deliver the promised
services dependably and accurately. This dimension includes meeting promises
pertaining to delivery, pricing, and complaint handling.
3. Buntate/
Responsiveness
Dorina de a-i acorda asisten consumatorului ntr-o manier prompt. Aceast

dimensiune promoveaz atitudini pozitive n procesul de deservire i solicit ca
personalul s atrag atenie asupra rugminilor, ntrebrilor i plngerilor unui
consumator / The willingness to assist customers in a prompt manner. This dimension
advocates positive service attitudes and requires personnel to pay attention to customer
requests, questions, and complaints.
4. Asigurare/
Assurance
Cunotine i politee ale angajailor i capacitatea lor de a exercita ncredere i

confien / The knowledge and civility of employees and their capability of exercising
trust and confidence.
5. Empatie/Empathy
Atitudine grijulie i atenie individualizat acordat de ctre organizaie consumatorilor

si / The caring attitude and individualized attention given by an organization to its
customers.
Sursa/Source: [7; 17; 18]

Aplicarea instrumentului vizat presupune
elaborarea celor dou chestionare. Primul se dedic
dimensiunii de ateptri, cel de-al doilea de percepii
ale consumatorului (vezi ca exemplu [6]). Studiul de
ateptare se refer la viziuni generale ale consumatorului
privind calitatea serviciului ntr-o anumit industrie, n
timp ce studiul de percepere relev aprecierile consumatorului ale unei organizaii concrete, n calitate de
prestator al serviciului n industria vizat.
Analiza Zonei de toleran se bazeaz pe
instrumentul SERVQUAL, dar se adaug cel de-al treilea
chestionar, prin care se poate estima nivelul de calitate
Application of the tool presupposes the

elaboration of two questionnaires. The first pertains to
the dimension of a customers expectations, the second
to his/her perceptions (see as an example [6]). The
Expectations survey refers to general views of a
customer on service quality in the certain industry
while the Perception survey responds to the customers
estimations of a particular organization as a service
provider in that industry.
The Analysis of a Zone of tolerance is based on
the SERVQUAL tool but a third questionnaire is added
which helps to estimate the minimum acceptable for a
37
minimal acceptabil pentru consumator [6; 24]. Zona de

toleran se definete ca o arie ntre nivelul ateptat al
calitii serviciului i nivelul acceptabil al acesteia. n
cazul n care aprecierile studiului de percepere a
consumatorului sunt deasupra Zonei de toleran, se
poate releva admiraia consumatorului vizavi de calitatea
serviciului prestat, intrarea n zon se refer la satisfacia
consumatorului, plasarea aprecierilor sub Zona de
toleran denot insatisfacia consumatorului.
Sus-menionatele metode au fost elaborate pentru
aprecierea calitii serviciilor n orice industrie
generatoare de servicii. Unul din exemplele elocvente de
aplicare a acestora i altor metode relevante n industria
turismului poate fi gsit ntr-o publicaie recent dedicat
msurrii calitii serviciilor n ecoturism [18]. Pe lng
aceasta, att experiena, ct i analiza literaturii
specializate contemporane ne demonstreaz c industria
turistic are specificul su, astfel nct metodele
menionate anterior, fiind universale dup caracter, ar
trebui s fie adaptate la acest fenomen. Nu este
ntmpltor faptul c, ncepnd cu anii 2000, a aprut un
ir de adaptri ale scrii SERVQUAL la ramurile
industriei turistice. Astfel, Frochot I. i Hughes H. au
dezvoltat metoda HISTOQUAL ca o scar de apreciere a
caselor istorice [19], Gilbert D. i Wong K., n 2003, au
redefinitivat cele cinci dimensiuni n apte dimensiuni
pentru a msura serviciile aeriene [20], Khan M. a
introdus, n acelai an, o nou dimensiune a ecotangibilelor pentru a aprecia calitatea serviciilor n aria
ecoturismului [21], Juwaheer a modificat SERVQUAL,
n 2004, pentru industria hotelier [22] i, n fine, n
2013, Kim I., Ahn K. i Chung N., pe parcursul
examinrii calitii serviciilor turistice n Coreea de Sud,
au aplicat absolut noi dimensiuni: calitate de sistem,
calitate de informaie, proiectarea interface i
convenien [23].
Odat cu apariia necesitii adaptrii metodelor
universale de cercetare a specificului industriei, merit
urmrit ideea abordrii complexe a metodologiei
privind calitatea serviciilor turistice [6]. Cu alte cuvinte,
ar trebui s se tind spre efectul sinergic n realizarea
analizei, recomandrilor i argumentrilor respective,
efectul fiind atins prin combinarea diferitelor metode.
Concluzie. Turismul contemporan se manifest ca
o parte component a standardelor de calitate ale vieii.
Ca urmare, conceptul de calitate a serviciilor turistice
este n dezvoltare. Megatendina de globalizare constituie
aportul la acest proces, mai ales determinnd standardele
internaionale pentru servicii, n general i, n special,
pentru servicii turistice. innd cont de faptul c
realizarea cu succes a calitii unui produs sau serviciu la
consumator, astzi, reprezint condiia principal pentru
existena unei ntreprinderi, companii sau chiar a
economiei naionale, este necesar monitorizarea calitii
serviciului sau a produsului turistic prin intermediul
diferitelor metode de cercetare. Adaptarea metodelor
universale la specificul industriei turistice, precum i
abordarea metodologic complex permit obinerea unui
38
customer service quality [6; 24]. Zone of Tolerance is

defined as an area between an expected level of service
quality and the minimum acceptable level of it. In case
estimations of the Customers Perception Survey are
above the Zone of tolerance, one may say about an
admiration of the customer for the quality of the
service performed, if they enter the zone satisfaction
of the customer and when the estimations are placed
below the Zone of Tolerance dissatisfaction of the
customer.
The methods mentioned above have been worked
out for estimating service quality in any service industry.
One of the bright examples of application of these and
other related methods to tourism industry one may find
in a recent publication devoted to measuring the quality
of Ecotourism services [18]. Alongside with this, as
experience shows and the analysis of the contemporary
specialized literature demonstrates, the touristic industry
has its specifics so as the universal by their character
methods mentioned above have to be adapted to this
fact. It is not incidental that beginning with around
2000s, there has been arising number of adaptations of
SERVQUAL scale to the branches of tourism industry.
Thus, Frochot I. and Hughes H. developed a
HISTOQUAL method as a historic houses assessment
scale [19], Gilbert D. and Wong K., in 2003, refined
those five dimensions to the seven ones to measure
airline services [20], Khan M. introduced, in the same
year, a new dimension of eco-tangibles when measuring
service quality in an ecotourism area [21], Juwaheer
modified SERVQUAL, in 2004, for hotel industry [22]
and, finally, in 2013, Kim I., Ahn K. and Chung N.,
when examining the quality of tourist services in South
Korea, applied some completely new dimensions:
system quality, information quality, interface design, and
convenience [23].
Together with the necessity to adapt the
universal research methods to the industry specifics, it
is worthy to share the Complex approach to tourism
service quality methodology [6]. In other words, one
has to aspire to get a synergy effect in realizing the
respective
analysis,
recommendations
and
substantiations which results from the combination of
various methods.
Conclusion. The contemporary tourism manifests
itself as a part of the quality life standards. In doing so,
the concept of quality of touristic services is in
development. Globalization megatrend contributes to
this process, especially by the means of determining the
international standards for services, in general, and for
touristic services in particular. Taking into account the
fact that the successful realization of a quality good or
service to a consumer is today the main condition of an
enterprise, firm or even national economys existence,
one has to monitor the quality of service or good by
various research methods. The adaptation of universal
methods to the specifics of touristic industry as well as
the application of the complex methodological approach
efect sinergic pozitiv n rezultatele, recomandrile i

argumentrile acestora.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
can lead to positive synergy effect in outcomes,

recommendations and their substantiation.
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KHAN, M. (2003). Ecoserv: Ecotourist quality expectation. Annals of Tourism Research, 30,109-124.
JUWAHEER, T.D. (2004). Exploring international tourists perceptions of hotel operations by using a
modified SERVQUAL approach: A case study of Mauritius. Managing Service Quality, 14, 350-364.
KIM, J., AHN, K. CHUNG, N. (2013). Examining the factors affecting perceived enjoyment and usage
intention of ubiquitous tour information services: A service quality perspective, Asia Pacific Journal of
Tourism Research, 18, 598-617.
Johnston R. 1995. The Zone of Tolerance: Exploring the Relationship between Service Transactions and
Satisfaction with the Overall Service. International Journal of Service Industry Management, V.6, No.2.
ISO/TC 228 Active Subcommittees. http://www.lvs.lv/encommittees/subcommittees/8498.
39
ECONOMIE FUNDAMENTAL I APLICATIV / FUNDAMENTAL AND APPLIED ECONOMICS
INFLUENA MECANISMULUI DE
FORMARE A PREURILOR
ASUPRA PERFORMANELOR
NTREPRINDERII
THE INFLUENCE OF PRICE

FORMATION MECHANISM ON
ENTERPRISES
PERFORMANCES
Dr., conf. univ. interimar Silvia ZAHARCO, UASM
Assoc. Prof., PhD Silvia ZAHARCO, SAUM
n domeniul economic, prezena preului este

evident, fiindc, n categoria de pre, sunt ntrunite toate
problemele de dezvoltare economic: producia,
mrfurile, munca, informaia, capitalul, investiiile,
transporturile, serviciile, folosirea pmntului etc. n
activitatea oricrei ntreprinderi productoare de bunuri
i servicii, preul deine un rol special, de maxim
importan pentru atingerea obiectivului final, pe care i-l
propune maximizarea profitului. n studierea preurilor,
cunoaterea coninutului economic i a mecanismului
formrii lor este o premis hotrtoare pentru a se
nfptui trecerea de la fundamente teoretice la fundamente
practice a modalitilor i tehnicilor de stabilire a
preurilor.
Cuvinte-cheie: pre, performane, profit, gestiune,
ntreprindere.
JEL: D49; O12
In the economic field the prices presence is

obvious because the category of price comprises all
the problems concerning economic development:
production, goods, labour, information, capital,
investments, transport, services, land exploitation etc.
These relations turn the problem of prices analyses
into their scientific investigation. The price is a
multidimensional concept which through its economic
and psychological valences proves to be both a
macroeconomic and a microeconomic tool that can be
used by the firm as the basic element in taking its
strategic and tactic decisions. In the activity of any
firm that produces goods and services the price has a
special role of great importance in order to reach the
final goal profit increase.
Key words: price, performances, profit,
management, firm.
JEL: D49; O12
Introducere. Preul desemneaz un concept

multidimensional care, prin valenele sale economice i
psihologice, se dovedete a fi att un instrument
macroeconomic, ct i unul microeconomic, pe care
ntreprinderea l poate utiliza ca element de baz n
deciziile sale strategice i tactice.
n activitatea oricrei ntreprinderi productoare de
bunuri i servicii, preul deine un rol special, de maxim
importan pentru atingerea obiectivului final, pe care i-l
propune maximizarea profitului.
Ca instrument al pieei i un indicator esenial al
realitii economico-sociale, preul pieei reprezint o
cantitate de bani pe care cumprtorul este dispus i poate
s o ofere productorului pentru a obine un bun oarecare
[3, p.143].
n domeniul economic, prezena preului este
evident, fiindc, n categoria de pre, sunt ntrunite toate
problemele de dezvoltare economic: producia,
mrfurile, munca, informaia, capitalul, investiiile,
transporturile, serviciile, folosirea pmntului etc. Aceste
relaii au fcut i fac din problema analizei naturii
preurilor o form frecvent de investigare tiinific a lor.
Dintre toate elementele pieei, preul este variabila
cea mai puin controlabil de ctre ntreprindere, deoarece
nivelul su real se stabilete pe pia n funcie de o serie de
factori obiectivi sau subiectivi, pe care ea nu-i poate
determina, ci doar i poate influena prin cantitatea de
produse oferite i nivelul cheltuielilor de producie
efectuate. Cu toate acestea, este cel mai uor de influenat,
pe termen scurt, de ctre productor producerea,
promovarea i distribuia cer mai mult timp i cheltuial
40
Introduction.
The
price
is
a
multidimensional concept that, through its economic
and psychological valences, proves to be both a
macroeconomic and microeconomic tool which the
company can use as a basic element in its strategic
and tactical decisions.
In the activity of any enterprise, producing
goods and services, the price has a special role of the
utmost importance in order to reach its ultimate goal
which is - maximizing profit.
As a market instrument and an essential
indicator of the socio-economic reality the market price
is an amount of money that the buyer is willing and
able to offer to a manufacturer to obtain a certain good
[3, p.143].
In the economic field price presence is
evident, because price category comprises all the
problems of the economic development: production,
goods, labour, information, capital, investments,
transport, services, land use etc. These relationships
turn the problem of prices nature analysis into the
common form of their scientific investigation.
Of all the market elements the price is the
least controllable variable by the company because its
actual level is determined on the market according to a
number of objective or subjective factors that the
enterprise cannot determine, it can only influence
through the quantity of products offered and the
production costs incurred. However, it is most easily
influenced by the producer for a short term -
pentru a fi influenate.
Fiind componenta cea mai flexibil a pieei, preul
devine i variabila ce se poate modifica urgent, cnd piaa
o cere, fie datorit dinamicii cererii, fie ofertei sau
atacurilor concurenei.
Material i metod. Studiul analizeaz impactul
mecanismului de formare a preului asupra rezultatelor
economico-financiare ale ntreprinderii, precum i
incidena nivelului de pre asupra mrimii profitului, innd
seama de efectele inflaiei.
Datele prezentate se bazeaz pe aspectele concrete
nregistrate n ntreprinderile din Republica Moldova, n
special, n AG Izvoarele Lunguei, r-nul Cimilia.
Pentru determinarea influenei factorilor asupra
performanelor ntreprinderii, inclusiv a influenei preului
de comercializare a produciei, s-a utilizat metoda
participrii prin cot.
Rezultate i discuii. Mecanismul preurilor
vizeaz sistemul de preuri care funcioneaz prin
intercondiionarea cu alte sisteme ale economiei naionale,
precum i legitile procesului de formare a preurilor.
Abordarea sistematic a preurilor permite identificarea
relaiilor dintre sistemul preurilor i celelalte componente
ale sistemului economiei naionale: procesul producerii
bunurilor materiale, consumul productiv i neproductiv,
exportul, importul, sistemul financiar, de credit, valutar etc.
Funcionarea
mecanismului
preurilor
se
caracterizeaz prin urmtoarele aspecte:
reflectarea real prin preuri a cheltuielilor de
producere i desfacere ale produselor i
serviciilor;
estimarea valorii mrfurilor difer n fiecare
moment sau etap;
nivelul i structura preurilor bunurilor
economice se fundamenteaz, n mod necesar,
pe baza raportului dintre cerere i ofert;
limitele deciziilor de fixare liber a preurilor
sunt determinate de elementele subiective, care
nu pot fi identificate prin calculul estimativ al
raportului cerere-ofert.
Cu ajutorul preurilor se exprim n bani
cheltuielile, veniturile i rezultatele financiare obinute n
urma activitii de producie a bunurilor sau de prestri de
servicii i a desfacerii lor. Totodat, nivelul preului este un
instrument al calculelor economice i financiare, care se
efectueaz n scopuri previzionale i de planificare
economic i financiar. Pe productorii de bunuri i
servicii i preocup mrimea preurilor cu care vor vinde
mrfurile. Prin pre, actul vnzrii trebuie anticipat.
Preul trebuie stabilit ferm, prin decizia proprie a
agentului economic. El trebuie estimat prin calcule
anticipate, pentru a putea fi folosit ca mrime orientativ la
deciziile economice privind producia. ns preul are o
poziie intermediar, ceea ce face ca evoluia lui s fie mult
mai greu de anticipat, n comparaie cu celelalte variabile
ale pieei [2, p.162].
n general, preul nu este elementul cel mai
important al strategiei competitive, dar el nu poate lipsi.
production, promotion and distribution require more

time and expense to be influenced.
Being the most flexible component of the
market, the price becomes the variable that can be
changed urgently, when the market demands it, either
because of demand dynamics or because of the offer or
competitors attacks.
Material and method. The study analyses the
impact of price formation mechanism on the economic
and financial results of the company as well as the
incidence of price level on the profit size, taking into
account the effects of inflation.
The presented data are based on concrete
issues registered in the enterprises of the Republic of
Moldova, especially in HPA (Household Peasant
Association) Izvoarele Lunguei in Cimilia. In order
to determine the influence of companys performances
factors, including commodity price influence, there
was used the method of participation by quota.
Results and discussions. Price mechanism
aims pricing system that works by interacting with
other systems of the national economy and the price
formation process regularities. The systematic prices
approach allows the identification of the relationships
between the price system and other components of the
national economy system: the production of material
goods, productive and unproductive consumption,
exports, imports, financial system, credit system,
currency system, etc.
The functioning of the price mechanism is
characterized by the following aspects:
actual reflection through prices of the costs
of production and products and services
sales;
the estimation of goods value differs at
each moment or stage;
the level and structure of economic goods
prices necessarily are based on the
proportion between supply and demand;
the limits of free price fixing decisions are
determined by subjective elements that
cannot be identified by the estimated
calculation of supply-demand ratio.
Prices help to express in money terms
expenses, revenues and financial results from the
activity of goods production or services rendering and
their sale. At the same time the price level is an
instrument of economic and financial calculations that
are performed for forecasting, economic planning and
financial management. The producers of goods and
services are interested in the size of the prices at which
they will sell their goods. By price, the act of sale
should be anticipated.
The price should be firmly established by the
trader's own decision. It must be estimated by early
calculations in order to be used as indicative size of
economic decisions on production. However, the price
has an intermediate position, which makes its evolution
41
Un pre competitiv este necesar, dar nu i suficient pentru

succesul n afaceri. Astfel, preul, ca element de contact i
armonizare a ntreprinderii cu mediul de afaceri, se
adapteaz uor la cerinele segmentelor de pia,
stimulndu-i pe clieni s cumpere. La rndul lui, preul
este influenat de produs, el variind, n mod frecvent, de-a
lungul ciclului de via al acestuia. Preul este cel care
compenseaz cheltuielile de distribuie i promovare,
influeneaz serviciile clienilor, sensibilizeaz i atrage
segmente de pia [1, p.87].
Productorul este cel care decide preul pe care-l va
solicita clienilor. Exist ns i excepii n economia de
pia, impuse de:
legislaii speciale cu privire la preul unor
produse;
limitare indirect prin politica fiscal, salarial
i de credit practicat n perioada respectiv;
necesitatea protejrii unor categorii de
productori sau consumatori;
acorduri sau restricii internaionale;
obligativitatea comunicrii baremurilor.
O ntreprindere poate adopta, n funcie de
interesele urmrite, fie o politic a preurilor pentru
produsele noi sau n expansiune, urmrind obinerea unei
marje mai importante, fie o politic de pruden de limitare
a concurenei, cu scopul de a se crea o intrare i de a se
instala progresiv pe pia.
Modalitile de determinare a preului, ntr-o
economie concurenial, difer n funcie de politica
adoptat de ntreprindere. Exist trei mari strategii pentru
stabilirea preului produsului i anume [1, p.108]:
Fixarea preului pornind de la cost. Conform
acestei metode, la baza preului, st valoarea
costului unitar determinat ca raport ntre suma
total a cheltuielilor de producere a bunului
respectiv i numrul de uniti produse. La acesta,
se adaug profitul. n funcie de verigile pe care le
parcurge produsul pn la consumatorul final, se
adaug i adaosurile comerciale ale comercianilor
intermediari. Cel mai mare neajuns al acestei
metode const n faptul c fixarea preului de
vnzare nu ine cont de pia, ceea ce poate
conduce la supraevaluri ale produsului i, deci, la
imposibilitatea vnzrii lui.
Fixarea preului pe baza cererii. Preul practicat
este rezultatul experimentrii mai multor preuri pe
un interval scurt de timp. n funcie de raportul
dintre cerere i ofert, se ajunge la un pre de
echilibru cu care se va vinde, n final, produsul.
Punctul de plecare este nivelul preului aferent
pragului de rentabilitate al ntreprinderii.
Determinarea preului pe baza competiiei. n
aceast situaie, n fixarea preului, se ignor
costurile i cererea pieei i se iau n calcul preurile
competitorilor. O astfel de determinare a preului
este des practicat, n special de detailiti, datorit
avantajelor pe care le ofer i anume: este o metod
42
to be more difficult to predict, compared to other

market variables [2, p.162].
In general, the price is not the most important
element of competitive strategy, but it cannot miss. A
competitive price is necessary but not sufficient for
success in business. So the price as the element of
contact and harmonization of an enterprise with
business environment, adapts easily to the requirements
of market segments, stimulating the customers to buy.
In its turn, the price is influenced by the product,
frequently varying along its life cycle. The price offsets
the costs of distribution and promotion, influences
customer services, sensitize and attract market
segments [1, p.87].
The manufacturer is the one who decides the
price he will ask customers. But there are exceptions in
a market economy, imposed by:
- special legislation on the price of some
products;
- indirect limitation through tax, credit and
salary policy practiced during that period;
- the need to protect certain categories of
producers or consumers;
- international agreements or restrictions;
- compulsory sharing of scales.
According to its interests an enterprise can
adopt either a pricing policy for new products or
expanding products aiming to obtain a major margin or
a cautious policy of limiting competition in order to
create an entry and to progressively install on market.
The methods of determining the price in a
competitive economy vary according to the policy
adopted by the company. There are three major product
pricing strategies, namely [1, p.108].
Fixing the price starting from the cost.
According to this method, the value of unit cost is in
the basis of the price, the unit cost being determined as
a ratio of total amount of expenditure for the
production of the good and the number of units
produced. Profit is added to this. According to the rings
through which the product passes to the final
consumer, trade margins of intermediaries are added.
The biggest drawback of this method is that fixing the
selling price does not take the market into account,
which may lead to the overestimations of the product
and hence to the impossibility of its sale.
Fixing the price based on demand. The
practiced price is the result of experimentation with
several prices for a short time. Depending on the ratio
of supply and demand an equilibrium price is reached
at which the final product will be sold. The starting
point is the breakeven price level of the company.
Price
determination
based
on
competition. In this situation, when fixing the price,
costs and market demand are ignored and the prices of
competitors are taken into consideration. Such price
determination is often practiced, especially by retailers,
because of the advantages it offers, namely: it is a
simpl, ce nu presupune studierea cererii,

determinarea punctului de echilibru i nici mcar
calcularea adaosului comercial (ntreprinderea, pur
i simplu, folosete acelai pre ca i competitorii
si pentru bunurile i serviciile asemntoare).
De reinut este faptul c avantajele politicii de
preuri nu sunt protejabile, ele comport un caracter
temporar. Preul trebuie folosit de ntreprindere cu mult
abilitate att pentru structurarea produciei, ct i pentru ai asigura pe pia accesibilitatea i competitivitatea.
Preul, prin mecanismul su complex, are inciden
direct asupra performanelor financiare ale ntreprinderii.
Preul este remunerarea pentru rezultatele activitii i
firmele tind s stabileasc un nivel de pre corespunztor
acestor rezultate [1, p.89].
Nivelul preului reiese, n primul rnd, din nivelul
costului unitar de producie, care reprezint preul tuturor
resurselor materiale, financiare i umane antrenate n
proces. La aceast etap, ntreprinderea apare n calitate de
cumprtor, iar preurile resurselor folosite, prin mrimea
i structura lor, determin nivelul anumitor indicatori. La
finalizarea procesului de adugare a valorii, agentul
economic, fiind vnztor, ncearc s utilizeze toate
posibilitile pentru a realiza cu succes produsele fabricate.
n acest context, de mrimea profitului inclus n structura
preului i, n ultim instan, de nsi mrimea preului,
va depinde vnzarea reuit a produselor i rezultatele
economico-financiare ale ntreprinderii (figura 1).
Furnizor/
Supplier
simple method that does not involve studying the

demand, the determination of the breakeven point and
even calculating trade margins (the company simply
uses the same price as its competitors for similar goods
and services).
It should be noted, however, that the pricing
policy benefits are not protected, they are temporary.
The price must be skilfully used both for enterprise
production structure and to ensure market accessibility
and competitiveness.
The price, through its complex mechanism,
has direct impact on the company's financial
performance. The price is the remuneration for its
performance and firms tend to establish a price level
corresponding to these results [1, p.89].
The price level emerges, first, from the unit cost
of production, which is the price of all material, financial
and human resources involved in the process. At this
stage the company is a buyer, and the prices of the used
resources, by their size and structure, determine the level
of certain indicators. After the completion of the process
of value adding the economic agent, being a seller, is
trying to use all the possibilities to sell successfully the
manufactured products. In this context, the successful
sale of products and financial results of the company
will depend on the size of the profit included in the price
structure and, ultimately, on the very size of the price
(figure 1).
Agent economic/
Economic agent
Preuri de aprovizionare (costuri pentru

agenii economici) influeneaz/ Supply
prices (costs for economic agents)
influence:
- necesarul de fonduri pentru investiii /
the need for investment funds;
- necesarul de credite bancare / the need
for bank loans;
- valoarea stocurilor / inventories;
- viteza de rotaie / rotation speed;
- costurile / costs;
- profitul / profit etc.
Beneficiar/
Beneficiary
Preuri de desfacere (venituri pentru

agenii economici) influeneaz/ Selling
prices (revenues for economic agents)
influence:
producia marf (desfacerea, prestrile de
servicii) / commodity production (sale,
services rendering);
venitul din vnzri / sales revenue;
profitul / profit;
rentabilitatea / profitability;
indicatorii eficienii economice / the
economic efficiency of indicators etc.
Figura 1. Implicaiile preurilor asupra gestiunii economico-financiare a agentului economic /

Figure 1. Prices influence on economic and financial management of the economic agent
Sursa: Vlceanu Gh., Robu V., Georgescu N. Analiza economico-financiar//Editura Economic, Bucureti, 2004/
Source: Vilceanu Gh., Robu V., N. Georgescu Economic and financial analysis//Economic Publishing House,
Bucharest, 2004
Este evident faptul c n cadrul analizei economicofinanciare se utilizeaz muli indicatori care permit evaluarea
eficienei deciziilor legate de pre. n acest context,
It is obvious that during the economic and

financial analysis many indicators are used that allow
evaluating the efficiency of pricing decisions. In this
43
important este alegerea unui set de indicatori care reflect

aceste legturi. Lund n consideraie cerinele Standardelor
Naionale de Contabilitate, ct i pentru reflectarea mai
complex a influenei preului asupra performanelor
financiare a ntreprinderii, acest sistem de indicatori
economico-financiari include trei grupe.
Prima grup este format din indicatorii ce
caracterizeaz viteza de rotaie a activelor, indicatori care
reflect numrul de rotaii a activelor pe parcursul unui an,
precum i perioada unei rotaii. Aceti indicatori se utilizeaz
n cadrul analizei situaiei financiare a ntreprinderii,
deoarece perioada n care activele pot fi transformate n
mijloace bneti cash influeneaz gradul de lichiditate.
Reducerea duratei ciclului de producie i a perioadei de
circulaie a activelor contribuie la creterea vitezei de rotaie
a lor, respectiv are loc creterea volumului produciei i a
vnzrilor.
La determinarea indicatorilor din aceast grup
se folosete volumul vnzrilor, care, prin nsi
relaia sa de calcul, reflect influena asupra mrimii
sale a dou componente: a nivelului preului
produsului i a volumului fizic de producie.
La efectuarea calculelor privind influena volumului
vnzrilor asupra performanelor ntreprinderii (asupra
profitului), este necesar s inem cont de faptul c
modificarea volumului vnzrilor are o aciune direct
asupra profitului, iar modificarea costului vnzrilor
acioneaz indirect. De asemenea, este necesar recalcularea
veniturilor i a consumurilor n funcie de producia vndut
n perioada curent i de preurile din perioada de referin.
n cazul AG Izvoarele Lunguei aceast recalculare s-a
fcut prin calculul analitic, care presupune nmulirea
cantitii vndute efectiv cu costul i preul din perioada
precedent, rezultatele fiind prezentate n tabelul 1.
context, it is important to choose a set of indicators that

reflect these links. Taking into consideration the
requirements of National Accounting Standards and in
order to reflect more complexly the influence of price on
the company's financial performance, this system of
economic and financial indicators includes three groups.
The first group consists of the indicators
characterizing the speed of rotation of assets, the
indicators reflecting the number of rotations of the
assets over a year and a rotation period. These
indicators are used in the analysis of the financial
situation of the company, since the period in which
assets can be converted into cash money influences the
degree of liquidity. Reducing production time and the
period of movement of assets helps to increase their
rotational speed and respectively the volume of
production and sales is increasing.
When determining the indicators of this group
the sales volume is used which through its calculation
relationship reflects the influence on its size of two
components: product price level and the physical
volume of production.
When calculating the influence of sales volume
on the performance of the enterprise (on profit) it is
necessary to keep in mind that changing the sales
volume has a direct effect on profit, and the change of
the sales cost has an indirect effect. It is also necessary
to recalculate incomes and consumptions depending on
the sold production during the current period and the
prices of the reference period. In HPA "Izvoarele
Lunguei" this recalculation was done by analytical
calculation, which means multiplying the quantity
actually sold by the cost and price of the previous
period, the results are presented in Table 1.
Tabelul 1/ Table 1
Date iniiale privind analiza profitului brut n AG Izvoarele Lunguei,
r-nul Cimilia / The initial data concerning the analysis of the in gross profit in
HPA Izvoarele Lunguei, region Cimilia
Indicatori/ Indicators
1. Vnzri nete, lei/ Net sales, lei
2. Costul vnzrilor, lei/ Sales cost, lei
3. Profitul brut (pierderea global), lei/
Gross profit (global loss), lei
4. Nivelul profitabilitii, lei/
Profitability level, lei
4520031
3676181
Abateri /
Deviations
(+,-)
+2330544
+1041863
397644
843850
+1288681
0,221
0,187
+0,361
2189487
2634318
Anul 2014 recalculat/

The year 2014
recalculated
2873242
2475598
- 444831
-0,188
Anul / The
year 2013
Anul / The
year 2014
Sursa: Elaborat de autor n baza Rapoartelor financiare ale AG Izvoarele Lunguei, r-nul Cimilia /
Source: Elaborated by the author based on the financial reports of HPA "Izvoarele Lunguei" region Cimilia
n baza datelor din tabelul 1, se efectueaz
calculul influenei factorilor detaliai, inclusiv
influena preului de comercializare a produciei, la
abaterea profitului brut (tabelul 2).
44
Based on the data from table 1 the calculation

of the influence of detailed factors is done, including
the sales price influence, to gross profit deviation
(table 2).
Tabelul 2/Table 2
Aprecierea influenei factorilor detaliai asupra modificrii profitului brut n
AG Izvoarele Lunguei r-nul Cimilia/ The estimation of the detailed factors influence on the gross
profit change in HPA Izvoarele Lunguei, region Cimilia
Calculul influenei factorilor / The
Rezultatul influenei /
Denumirea factorilor / Factors
calculation of factors influence
The result of influence,
( ), MDL
1. Modificarea volumului i structurii
vnzrilor / Change of sales volume
397644 (- 444831)
+842475
and structure
Inclusiv/ Including:
a. Modificarea volumului vnzrilor /
-128546
(2873242 2189487) (-0,188)
Change of sales volume
b. Modificarea structurii i sorti842475 (-128546)
+971021
mentului vnzrilor/ Change of
sales structure and range
2. Modificarea costului vnzrilor/
3676181 2475598
+1200583
Change of sales cost
3. Modificarea preurilor de comer4520031 2873242
+1646789
cializare / Change of trading prices
Balana influenei / Influence Balance
-128546+971021+1646789-1200583
+1288681
Conform calculelor obinute, observm c
profitul brut net s-a majorat cu 1288681 lei, n anul
2014, fa de anul 2013. Aceast sporire a avut loc, n
principal, pe seama structurii i a sortimentului
vnzrilor, care a contribuit la majorarea profitului
brut cu 1327533 lei. O influen pozitiv au avut-o i
preurile de comercializare. Modificarea acestora a
condiionat creterea profitului brut cu 1237286 lei,
fapt care, n condiii optime ale raportului cerereofert, constituie un factor important ce determin
viabilitatea ntreprinderii. Concomitent, majorarea
costului vnzrilor a dus la micorarea profitului brut
cu 1150678 lei.
Ca urmare a analizei profitului, se poate
concluziona c eforturile gospodriei analizate, n
vederea majorrii profitului brut pe seama sporirii
vnzrilor, au fost considerabil reduse de sectorul de
producere, care este responsabil de promovarea
mecanismului de economisire a tuturor felurilor de
resurse ale gospodriei.
A doua grup este reprezentat de indicatorii
rentabilitii. Ei se determin ca raportul dintre
efectele economico-financiare i eforturile depuse n
vederea realizrii acestora, reflectnd capacitatea
ntreprinderii de a obine profit. n aceast grup,
vorbim despre rentabilitatea produciei agricole,
rentabilitatea veniturilor din vnzri, rentabilitatea
activelor,
rentabilitatea
capitalului
propriu,
rentabilitatea capitalului permanent.
La calcularea acestor indicatori, se utilizeaz
profitul, care se afl n legtur cu costul de producie,
cu venitul din vnzri i cu nivelul preului.
Modificarea profitului n funcie de fluctuaiile preului
poate fi urmrit n mai multe situaii (tabelul 3).
According to made calculations we can

note that net gross profit increased by 1288681
MDL in 2014 compared to 2013. This increase
occurred mainly on account of sales structure and
product range, which contributed to the increase of
gross profit by 1327533 MDL. Trading prices also
had a positive influence. Their change conditioned
gross profit increase to 1237286 MDL, which in
optimum conditions of supply-demand ratio is an
important factor determining the viability of the
enterprise. Simultaneously, the increase of sales
cost led to the decrease of gross profit by 1150678
MDL.
Having analysed the profit we may
conclude that the efforts of the analysed household,
in order to increase gross profit due to the increase
in sales, were considerably reduced by the
production sector, which is responsible for
promoting saving mechanism of all kinds of
household resources.
The second group is represented by
profitability indicators. They are determined as the
ratio of the economic and financial effects and the
efforts made to achieve them, reflecting the
company's ability to make profits. In this group we
talk about the profitability of agricultural
production, income return on sales, return on
assets, return on equity capital, return on
permanent capital.
Profit is used when calculating these indicators,
profit is linked to the cost of production, sales income
and price level. Profit change depending on price
fluctuations can be observed in several cases (table 3).
45
Reducerea mrimii profitului/ Profit

size decrease
Majorarea mrimii profitului/ Profit size

increase
Tabelul 3/Table 3
Influena nivelului de pre asupra mrimii profitului / Price level influence on profit size
Majorarea nivelului de pre/
Reducerea nivelului de pre/
Price level increase
Price level decrease
- preul practicat iniial a fost mai mic n - preul practicat iniial a fost mai mare n
comparaie cu capacitatea de cumprare a comparaie cu capacitatea de cumprare a
consumatorilor / the charged initial price was consumatorilor / the charged initial price was
lower compared to the purchasing power of higher compared to the purchasing power of
consumers;
consumers;
- pentru piaa pe care activeaz ntreprinderea este - pentru piaa pe care activeaz ntreprinderea este
caracteristic o cerere neelastic / the market on caracteristic o cerere elastic / the market on
which the company operates is characterized by which the company operates is characterized by
elastic demand;
inelastic demand;
- firma dispune de capaciti de producie limitate - costurile unitare de producie se reduc mai repede
paralel cu nregistrarea unei cereri curente ca ncasrile de la realizare / unit production costs
ridicate pentru bunul produs / the company has are reduced faster than receipts from sales;
limited production capacities simultaneously - piaa a fost prsit de unii concureni / the market
with a high current demand for the produced was left by some competitors;
good;
- preurile mici permit ntreprinderii s se orienteze
- consumatorii apreciaz preurile mari ca cu vnzrile spre piee noi de desfacere / low
reflectare a calitii nalte/ consumers regard prices allow the company to direct its sales to new
high prices as the reflection of high quality.
markets.
- conjunctura pieei impune creterea preurilor - conjunctura pieei impune reducerea preurilor sau
sau aceast cretere poate fi rezultatul imitaiei aceast reducere poate fi rezultatul imitaiei
aciunilor firmelor concurente / market aciunilor firmelor concurente / market conditions
conditions impose prices increases or this impose prices reduction or this reduction may be
increase may be the result of competitors actions the result of competitors actions imitation;
imitation;
- pentru piaa pe care activeaz ntreprinderea este
- existena unei rate nalte a inflaiei, cnd caracteristic o cerere neelastic / the market on
creterea costului nu este compensat prin which the company operates is characterized by
creterea preului / the existence of high inelastic demand;
inflation when the cost increase is not - preurile se reduc pentru a crete cota deinut de
compensated by the price increase;
pia / prices are reduced to increase the market
- pentru piaa pe care activeaz ntreprinderea este share;
caracteristic o cerere elastic / the market on - firma are intenia de a nceta sau a reprofila
which the company operates is characterized by activitatea/ the company intends to cease or
elastic demand.
reorient its activity.
Sursa: Vlceanu Gh., Robu V., Georgescu N. Analiza economico-financiar//Editura Economic,

Bucureti, 2004/
Source: Vilceanu Gh., Robu V., N. Georgescu Economic and financial analysis//Economic Publishing
House , Bucharest, 2004
Preul influeneaz direct proporional mrimea
profitului. Modul de calcul al profitului este:
Pr = VV CT,
unde: Pr exprim profitul, VV venitul din
vnzri, CT costul total.
VV = P Q,
unde: P indic preul i Q volumul produciei.
n fundamentarea preurilor libere, agenii
economici pun accentul pe profit, asigurndu-i cu
prioritate fundamentarea n preurile de ofert i numai
dup aceea, trec la negocierea cu cumprtorii a nivelului
preurilor. ntreprinderea productoare urmrete ca
fiecare produs din sortimentul de fabricaie s aduc
profit, s fie rentabil.
Cuprinderea profitului n pre este generat, pe de o
46
The price influences directly proportional the

profit size. The calculation of profit is:
Pr = SR - TC,
where: Pr - profit, SR - sales revenue, TC total
cost.
SR = P Q,
where: P - price and Q production volume.
When substantiating market prices, economic
agents focus on profit, ensuring the priority of the
offer prices and only thereafter they proceed to
negotiate the price level with the buyers. Producing
company aims to get profit from each product it
produces.
Enrolling profit in price is generated by
manufacturer's original purpose to recover invested
parte, de scopul iniial al productorului de a-i recupera

capitalul investit i, totodat, de a ctiga ct se poate de
mult, ca profit, peste acel nivel, iar pe de alt parte, este un
rezultat al funcionrii pieei, care confirm nivelul preului
format. Deci, din punct de vedere obiectiv, profitul este un
rezultat al recunoaterii pe pia a unui anumit nivel de pre,
din care se obine profitul [2, p.113].
A treia grup este reprezentat de indicatorii
securitii financiare, i anume: contribuia marginal,
pragul de rentabilitate, stabilitatea financiar, coeficientul
securitii financiare etc.
Determinarea indicatorilor siguranei are la baz
analiza corelaiei parametrilor cost-volum-profit, ceea ce
presupune stabilirea gradului de influen a modificrii
volumului vnzrilor asupra modificrii costului i a
profitului. Spre deosebire de relaia dintre cost i pre, n
care costul poate exista n afara preului, n relaia dintre
profit i pre legtura este direct. Cele dou mrimi
preul i profitul se presupun reciproc. Profitul face
parte din pre, n timp ce costul se cunoate n afara
pieei, nainte de a ajunge produsul la pia, ca fiind o
mrime a produciei, preul poate fi cunoscut numai la
pia, sub aciunea legalitilor proprii ale mecanismului
pieei [2, p.104].
Pentru realizarea de profit de ctre ntreprinderi,
nu este suficient ca mrfurile s se produc, s
nregistreze costuri, ele trebuie s se i vnd, s aib un
pre. n fundamentarea preurilor libere, agenii
economici pun accentul pe profit.
Profitul ce se include n preurile produselor se
determin, n general, pe baza ratei de rentabilitate a
produsului, calculat ca raport ntre profitul i costurile totale
ale produsului sau ntre profitul total i costurile de producie
totale ale ntreprinderii. ntreprinderea productoare
urmrete ca fiecare produs s aduc profit, s fie rentabil.
Mrimea absolut i procentual a rentabilitii, alturi de
cost definesc nivelul preurilor cu care se vnd i se cumpr
bunurile i serviciile n economie.
Utiliznd
procedeele
specifice
analizei
economico-financiare se poate pune n eviden msura
n care factorii de la diferite nivele au influenat valoarea
performanei financiare.
Pentru realizarea unei comparabiliti a
performanelor financiare a ntreprinderii trebuie s se
in seama de efectele inflaiei. Adic, evaluarea tuturor
datelor din situaiile financiare se efectueaz la preurile
curente la data ntocmirii situaiilor financiare. Pentru
deflatarea performanelor pot fi utilizate o serie de
mrimi ce aproximeaz inflaia, cum ar fi:
indicele de cretere a preurilor la ntreprinderea
analizat (ip);
rata medie a inflaiei din sectorul de activitate al
ntreprinderii analizate (rsi);
rata medie a inflaiei n economie (ri).
Utiliznd, de exemplu, indicele de cretere a
preurilor la ntreprinderea analizat (ip) ca indice pentru
deflatarea performanelor, modalitatea concret de
deflatare ar consta n:
capital and also to gain as much profit as possible

over that level, and, on the other hand, it is a result
of market functioning that confirms the formed price
level. So, from the objective point of view, the profit
is a result of market recognition of a given price
level, from which the profit is obtained [2, p.113].
The third group is represented by the financial
security indicators, and namely: marginal contribution,
breakeven point, financial stability, financial security
coefficient, etc.
The determination of safety indicators is based
on correlation analysis of cost-volume-profit
parameters, which involves determining the degree
of influence of the volume change on the cost and
profit change. Unlike the relationship between the
cost and the price, where the cost can exist outside
the price, there is a direct link in the relationship
between the profit and the price.
These two
measures - the price and profit - assume each other.
The profit is a part of the price. While the cost is
known outside the market before the product reaches
the market, being a measure of output, the price can
only be known on the market, under the action of the
legalities of the market mechanism [2, p.104].
To achieve profit by enterprises it is not enough
to produce goods, to record costs, the goods must sell
and have a price. When substantiating market prices,
traders focus on profit.
The profit, that is included in determining
product prices, is generally based on the rate of return
of the product, calculated as the ratio between profit
and total costs of the product, or between total profit
and total production costs of the enterprise. The
producing company wants every product to bring
profit, to be profitable. The absolute and percentage
size of profitability, along with cost, define the price
level at which goods and services are sold and
purchased in the economy.
Using the procedures specific to the economic
and financial analysis we can reveal the extent to which
the factors from different levels influenced the
financial performance value.
To achieve comparability of the financial
performances of the company we must take into
account the effects of inflation. That is, the
evaluation of all data from the financial statements is
made at current prices at the date of the financial
statements. In order to deflate the performances
there can be used a number of measures that
approximate inflation, such as:
prices increase indexes in the analysed
enterprise (pi);
the average inflation rate in the activity sector of
the analysed enterprise (rse);
the average inflation rate in the economy (ir).
Using for example prices increase indexes in
the analysed enterprise (pi) as the index for
performances deflation, the way of deflation would be:
47
Rc =
Rc =
unde:
Rc reprezint rezultatele ntreprinderii exprimate
n preuri comparabile;
R rezultatele ntreprinderii exprimate n preuri
constante;
ip indicele de cretere a preurilor la
ntreprinderea analizat.
Este evident c fenomenul inflaionist este nsoit
de creterea preurilor. La nivelul productorilor,
creterea preurilor genereaz creterea preurilor
materiilor prime, creterea impozitelor i taxelor,
creterea salariilor etc. Ca urmare a creterii costurilor,
crete nevoia de resurse financiare ale ntreprinderii,
productorii fiind silii s majoreze preurile de vnzare.
Concluzii. Preul reprezint un mijloc de
comunicare foarte important, el fiind unul dintre primele
elemente ale produsului cu care intr n contact
cumprtorii i constituind o baz de comparaie cu
produsele similare ca valoare de ntrebuinare, aflate pe
pia n momentul respectiv.
Oferind o prim imagine a ceea ce reprezint
produsul i constituind un indiciu a ceea ce trebuie s se
atepte consumatorul de la acesta, de multe ori, preul
este un element decisiv n luarea deciziei de cumprare.
Consumatorul apreciaz utilitatea produsului
(respectiv gradul de satisfacie obinut n consum datorit
calitilor produsului) i accept sau nu preul (n funcie
de capacitatea de apreciere, gusturi, nevoi, puterea de
cumprare).
Orice ntreprindere productoare trebuie s
analizeze atent conjunctura pieei, s sesiseze
oportunitile aprute i s se adapteze rapid la acestea,
avnd o politic flexibil de preuri. Decizia de pre este
considerat hotrtoare n realizarea obiectivelor
comerciale ale ntreprinderii datorit faptului c preul
influeneaz volumul vnzrilor, profitul obinut, cota de
pia deinut de ntreprindere, dar i imaginea de marc.
Strategia de preuri prin nivelul, diversitatea i
mobilitatea preurilor propuse trebuie s fie suficient de
elastic, evaluarea sa periodic i asigurarea
corespondenei cu condiiile pieei fiind absolut necesare,
n vederea realizrii obiectivelor stabilite i obinerii unor
performane ct mai nalte.
1.
2.
3.
4.
48
where:
- Rc is the results of the enterprise expressed
in comparable prices;
- R is the results of the enterprise expressed in
constant prices;
- pi is the prices increase indexes in the
analysed enterprise.
It is obvious that the inflation phenomenon
is accompanied by prices increase. At the
producers level, prices increase generates the
increase of the prices for raw materials, taxes
increase, wages increase, etc. As a result of the
costs increase, the need for financial resources of
the company grows, manufacturers are forced to
raise selling prices.
Conclusions. The price is a very important
means of communication, it is one of the first elements
of the product coming into contact with buyers and
provide a basis for comparison with similar products as
use value that are on the market at a certain moment.
The price gives the first idea of the product; it
is an indicator of what consumers should expect from
the product, often, the price is a decisive factor in the
purchase decision.
The consumer appreciates the usefulness of
the product (the degree of satisfaction in consumption
owing to the products quality) and the consumer
accepts or not the price (depending on his judgment,
tastes, needs and purchasing power).
Any manufacturing enterprise should carefully
analyse market situation, should sense the emerging
opportunities and adapt quickly to them, having a
flexible price policy. Price decision is considered
crucial in achieving business objectives of the company
because the price affects sales volume, the obtained
profit, the market share of the enterprise, and its brand
image.
Price strategy by the diversity and mobility of
the proposed prices must be sufficiently resilient, its
periodic assessment and ensuring correspondence with
market conditions are absolutely necessary in order to
achieve objectives and obtain the highest possible
performances.
Referine bibliografice / Bibliographic references:

BELOSTECINIC Gr. Marketing // Editura Universitas, Chiinu, 1998
MRGULESCU D. Analiza economico-financiar a ntreprinderilor // Ed. Tribuna Economic,
Bucureti, 2003
MOLDOVANU D. Curs de teorie economic // Editura ARC, Chiinau, 2003
VLCEANU Gh., ROBU V., GEORGESCU N. Analiza economico-financiar//Editura Economic,
Bucureti, 2004
FINANE, CONTABILITATE I ANALIZA FINANCIAR / FINANCE. ACCOUNTING AND FINANCIAL ANALISIS
EVALUAREA PERFORMANEI
FINANCIARE A
NTREPRINDERILOR
INDUSTRIALE PRIN PRISMA
DIMENSIUNILOR DE
PROFITABILITATE,
RENTABILITATE I CRETERE
Conf. univ., dr. Nadejda BOTNARI, ASEM,
Drd. ASEM, Ana NEDELCU,
lect. USCH B. P. Hasdeu
Toate ntreprinderile pretind performan. Or,
performana financiar reprezint obiectivul oricrei
ntreprinderi, deoarece, numai prin performan, acestea
au posibilitatea de a crete i de a progresa. Primul pas,
care conduce la control i la o eventual performan, este
evaluarea acesteia. Msurarea performanei este
necesar, ntruct, prin aceasta, ntreprinderile posed
capacitatea de a stabili nivelul n care au fost atinse
obiectivele, de a-i evalua performana i de a elabora
obiective n scopul mbuntirii acesteia. Evaluarea
performanei contribuie la prosperarea ntreprinderii prin
evidenierea punctelor tari i a celor vulnerabile afacerii,
printr-o cunoatere mai bun a necesitilor
consumatorilor i identificarea oportunitilor de
mbuntire a activitii ntreprinderii.
Cuvinte-cheie: performan, venit, profit,
rentabilitate, cretere, ntreprinderi industriale.
JEL: G39, L62, L66, L69.
1. Cadrul
introductiv
al
evalurii
performanei financiare a ntreprinderilor
Toate ntreprinderile pretind performana, deoarece
aceasta le asigur realizarea obiectivului fundamental de
maximizare a valorii investiiilor de capital i prezena
durabil pe pia.
Dei este un concept des ntrebuinat att n
literatur, ct i n practic, definirea acestuia este foarte
rar, iar de cele mai multe ori, se trece la partea msurabil
a performanei, care se realizeaz diferit, n funcie de
utilizatorii informaiilor financiar-contabile.
Din punct de vedere contabil, performana
financiar e constituie ntruchiparea succesului obinut
de ctre ntreprindere ntr-o perioad de timp.
Specificul acestei abordri const n identificarea
performanei financiare cu performana ntregii
ntreprinderi, precum i utilizarea valorii contabile n
evaluarea performanei.
Din punct de vedere financiar, performana
financiar descrie succesul actual i potenialul viitor al
ntreprinderii. Performana financiar este considerat ca
reprezentare a reuitei generale a ntreprinderii, doar c,
spre deosebire de abordarea contabil, sunt utilizate n
estimare, pe lng valori contabile i valoarea de pia.
FINANCIAL PERFORMANCE
EVALUATION OF INDUSTRIAL
ENTERPRISES IN TERMS OF
PROFITABILITY, RETURN AND
GROWTH DIMENSIONS
Assoc. Prof., Ph.D.,
Nadejda BOTNARI, ASEM
PhD student ASEM, Ana NEDELCU,
lecturer CSU B.P. HASDEU
All
companies
claim
performance.
Financial performance represents the objective of
any enterprise, because only through performance
a company is able to grow and progress. The first
step that leads to control and eventual performance
is its evaluation. Performance measurement is
necessary, because thereby businesses have the
ability to assess the level of the achieved
objectives, to evaluate their performance and to
develop goals for improvement. Performance
evaluation contributes to the prosperity of the
enterprise by highlighting the strengths and
weaknesses of the business through a better
understanding of consumer needs and identifying
opportunities to improve its activity.
Key word: performance, yield, profit,
return, growth, industrial enterprises.
JEL: G39, L62, L66, L69.
1. The introductory framework of
enterprises financial performance evaluation
Financial performance is the objective of
any enterprise, because only obtaining performance
companies have the opportunity to grow and
progress.
Very often used, performance is a difficult
concept to define, with an ambiguous and integrative
character. The diversity of approaches about the
performance reveals that its definition is perceived
differently depending on the users of financialaccounting information.
From the accounting point of view,
financial performance is the embodiment of
success achieved by the company over a period of
time. The peculiarity of this approach is the
identification of financial performance with the
performance of the entire enterprise, as well as the
use of book value in performance assessment.
From the financial perspective, financial
performance describes actual success and future
potential of the company. Financial performance is
regarded as representation of the overall success of
the enterprise, and unlike accounting approach; it is
used to estimate, in addition to book value, the
49
O definiie integratoare a conceptului este

Performana semnific succes, competitivitate, reuit,
optimizarea prezentului i proiecia viitorului, iar cert este
c toate entitile economice pretind performan.
Prima condiie, necesar pentru atingerea
performanei n afaceri, o constituie dezvoltarea i
implementarea unui sistem de indicatori pentru msurarea
acesteia. Din acest motiv, orice entitate, fie c este vorba
de o mare corporaie, fie c este o mic ntreprindere,
trebuie s implementeze un sistem de msurare a
performanei, deoarece att succesul, ct i continuitatea
activitii depind de performana acesteia. Msurarea
performanei este necesar, deoarece, prin aceasta,
ntreprinderile au capacitatea de a stabili msura n care au
fost atinse obiectivele, de a-i evalua performana i de a
elabora obiective n scopul mbuntirii performanei lor.
Or, conform opiniei expertului american n calitate de
materie n evaluarea performanei Harrington H.J,
evaluarea este primul pas, ce duce la control i la o
eventual mbuntire [2].
Evaluarea performanei este un instrument de
continu perfecionare n vederea meninerii nivelului de
competitivitate potrivit unei lumi tehnologice, n care
concurena crete intens. Evaluarea performanei
contribuie la prosperarea ntreprinderii prin evidenierea
punctelor tari i a celor slabe ale afacerii, printr-o
cunoatere mai bun a necesitilor consumatorilor i
identificarea oportunitilor de mbuntire a activitii
sale [6, p.1-2].
n acest context, evaluarea performanei financiare
a ntreprinderii deine un loc central n cadrul
managementului financiar.
Deoarece performana financiar este un concept
complex, care dezvluie informaie despre diverse aspecte
ale succesului financiar al ntreprinderii, diferii utilizatori
ai informaiei financiar-contabile asimileaz doar acea
dimensiune a performanei financiare, care prezint cel
mai mare interes. n acest sens, deosebim mai multe
categorii de utilizatori de informaie [4, p.17], [5, p.496]:
Acionarii sau proprietarii ntreprinderii sunt
interesai de aa-numita performan bursier a
ntreprinderii, reprezentat prin diveri indicatori ai
valorii de pia, estimai n baza preului curent al
aciunilor i valorii dividendelor achitate. Prin
creterea valorii de pia, acionarii percep succesul
financiar al ntreprinderii, prin urmare, succesul
investiiilor efectuate anterior.
Potenialii investitori au nevoie de mai mult
informaie financiar pentru a fundamenta decizia
de investire, dar creterea valorii de pia, plata
dividendelor reprezint un argument feroce pentru
efectuarea investiiilor n ntreprindere, ce
manifest un nivel sporit al performanei
financiare. Investitorii poteniali sunt interesai de
cunoaterea capacitii viitoare a ntreprinderii de a
plti dividende, astfel, evoluia profitului net,
structura financiar i situaia fluxurilor de numerar
furnizeaz o imagine mai ampl, ce este necesar
50
market value.
An integrative definition of the concept is
Performance signifies success, competitiveness,
optimization of the present and projection of the
future and a fact is that all economic entities are
claiming performance.
The first condition to achieve business
performance is the development and implementation
of a system of indicators for its measuring. For this
reason, any entity, a large corporation or a small
business, has to implement a performance
measurement system, because both, business
continuity and success, depend on its performance.
Performance assessment is necessary, as it allows
businesses to determine the level of the achieved
objectives, to evaluate their performance and to
develop goals for improvement. According to the
opinion of an American expert in performance
evaluation, Harrington H.J., evaluation is the first
step that leads to control and to the eventual
improvement [2].
Performance evaluation is a tool for
continuous improvement in order to maintain the
competitiveness according to a technological world,
where competition grows intensively. Performance
evaluation contributes to the prosperity of the
enterprise by highlighting the strengths and
weaknesses of the business through a better
understanding of consumer needs and identifying
opportunities to improve its activity [6, p.1-2].
In this context, the financial performance
evaluation of the company holds a central place in
the financial management.
As financial performance is a complex
concept that reveals information about various
aspects of the financial success of the enterprise,
different users of financial information assimilate
only that dimension of financial performance that is
the most interesting. In this sense we distinguish
several categories of users of information [4, p.17],
[5, p.496]:
Shareholders or owners of the company are
interested in so-called stock performance of the
company, represented by various indicators of
market value estimated based on the current
share price and the dividend paid. Shareholders
perceive the financial success by increasing the
market value of the company's, hence the
success of previous investments.
Potential investors need more information to
substantiate financial investment decision, but
increasing the market value, dividend payment is a
ferocious argument for investing in the business,
exhibiting a high level of financial performance.
Potential investors are interested in knowing the
company's future ability to pay dividends, so net
profit development, financial structure and cash
flow statement provide a broader picture required
viitorilor investitori.
Managementul ntreprinderii, n cadrul procesului
managerial, acceseaz diverse surse informaionale
pentru a fundamenta decizii ct mai raionale.
Performana financiar furnizeaz o imagine fidel
i relevant pentru alegerea celei mai optime
structuri financiare, stabilirea celor mai adecvate
strategii de gestiune a activelor, pentru adoptarea
acelor decizii de investire i de dividend, ce vor
servi la sporirea prosperitii ntreprinderii, fr ca
continuitatea sa s fie ameninat de cerinele
exagerate ale acionarilor.
Creditorii sunt interesai de succesul financiar al
debitorilor si, deoarece un nivel al performanei
financiare relev o capacitate de plat adecvat, un
nivel de profitabilitate, care va oferi ntreprinderii
posibilitatea rambursrii capitalului mprumutat,
precum i achitarea costului acestuia.
Furnizorii percep, prin intermediul performanei
financiare, garania continuitii activitii
ntreprinderii-client, adic capacitatea acesteia de a
plti la timp i n ntreaga msur toate obligaiile
comerciale.
Clienii sunt interesai de obinerea produselor i
serviciilor de nalt calitate, iar un nivel cresctor al
vnzrilor i al profitului inspir ncredere n faptul
c productorul nu va tinde spre meninerea unui
nivel al profitabilitii n defavoarea calitii
produselor.
Instituiile de stat sunt interesate de calcularea
corect a contribuiilor ctre bugetul de stat, astfel
performana financiar este perceput ca o relaie
dintre veniturile i cheltuielile ntreprinderii.
Angajaii i grupurile reprezentative ale acestora,
prin performana financiar, percep capacitatea
ntreprinderii de a plti remunerri i alte avantaje,
precum i de a oferi oportuniti profesionale.
n urma cercetrii modului de evaluare a
performanei ntreprinderii, de ctre un grup de cercettori
americani, n frunte cu Murphy, G. B. (cercetarea a 51 de
articole tiinifice publicate n perioada 1987-1993), au fost
identificate 71 de variabile distincte, care descriu diferite
aspecte ale performanei ntreprinderii, pe care autorii le-au
grupat n 8 dimensiuni: eficiena, creterea, profitul,
lichiditatea, cota de pia, ndatorarea, supravieuirea i
altele [3].
La rndul nostru, studierea unui ir vast de
publicaii financiare autohtone i strine, n vederea
determinrii celor mai des utilizate dimensiuni ale
performanei financiare, ne-a permis identificarea
urmtoarelor dimensiuni ale performanei financiare:
rentabilitatea, profitabilitatea, creterea, rotaia capitalului,
stabilitatea, valoarea adugat, valoarea de pia,
capacitatea de plat, fluxul de numerar i echilibrul
financiar.
Punctul de pornire, n determinarea dimensiunilor
performanei financiare, l constituie acceptarea
rezultatului financiar ca dimensiune a acesteia.
by prospective investors.
Companys
management
uses
in
the
administration process diverse sources of
information to make decisions more rational.
Financial performance provides a true and
relevant image for choosing the optimal
financing structure; establish the most
appropriate strategy for assets management, for
adopting those investment and dividend
decisions, which will contribute to the welfare
increasing without threating the continuity of
firms activity, because of excessive demands of
shareholders.
Creditors are interested in financial success of
their borrowers as a level of financial
performance reveals an adequate payment
capacity and a level of profitability that will
provide to the enterprise the ability to repay the
borrowed capital, and to pay its cost.
Providers
perceive,
through
financial
performance, the guarantee of customer
enterprises continuity, its ability to pay on time
and in full measure all trade obligations.
Customers are interested in obtaining high quality
products and services and a high level of sales or
profit inspires confidence in that the manufacturer
will not seek to maintain the level of profitability
by decreasing the product quality.
The state institutions are interested in fair
calculation of contributions to the state budget,
so financial performance is perceived as a
relationship between revenue and expenditure of
enterprise.
Employees and their representative groups
perceive the financial performance as the
company's capacity to pay salary and other
benefits and to provide job opportunities.
As a result of the research of how the
company's performance is evaluated realized by a
group of American researchers led by Murphy G.B.
(research of 51 scientific articles published between
1987 to 1993), there were identified 71 distinct
variables that describe different aspects of companys
performance, which the authors have grouped into
eight dimensions: efficiency, growth, profits, liquidity,
market share, debt, survival and others [3].
In our turn, studying a vast array of
domestic and foreign financial publications to
determine the most commonly used dimensions of
financial performance, we identified the following
dimensions of financial performance: return,
profitability, growth, capital turnover, stability,
value added, market value, ability to pay, cash flow
and financial equilibrium.
The starting point in determining financial
performance is accepting financial result as its
dimension.
51
2. Evaluarea performanei financiare a

ntreprinderilor industriale
n cadrul indicatorilor de msurare a performanei
financiare a ntreprinderii, cei mai relevani sunt cei ce
msoar profitabilitatea acesteia att n termeni absolui,
ct i n termeni relativi.
Performana financiar a ntreprinderilor industriale
este condiionat de capacitatea acestora de a genera profit.
Analiza evoluiei veniturilor din vnzri n contrapartid
cu dinamica profitului net permite perceperea specificului
fiecrei industrii i identificarea zonelor problematice ale
acestora.
Din datele tabelului 1, se observ c nivelul
vnzrilor are o evoluie ascendent n ntreaga perioad
analizat doar la industria uoar i cea a mainilor, n timp
ce la industria buturilor se constat o scdere a veniturilor
din vnzri, n anul 2014, cu 24%.
Dinamica pozitiv a veniturilor din vnzri nu
garanteaz o evoluie ascendent a celorlali indicatori ai
profitabilitii. Astfel, n cadrul fiecrei industrii, observm
o cretere a vnzrilor nsoit cu diminuarea profitului
brut (industria buturilor 2011; industria uoar 2012;
industria mainilor 2014), ceea ce indic faptul c ritmul
de cretere a costului vnzrilor prevaleaz asupra ritmului
de cretere a veniturilor din vnzri. Apreciem aceast
evoluie negativ, ntruct reflect o reducere a eficienei
managementului costurilor sau a activitii comerciale.
Reducerea veniturilor din vnzri provoac, cel
mai frecvent, reducerea profitului brut i a celui
operaional (industria buturilor 2014). Efectul negativ al
evoluiei descresctoare a vnzrilor poate fi diminuat prin
intermediul prevalrii ritmului de descretere a costului
vnzrilor asupra reducerii veniturilor din vnzri (profitul
brut crete), sau acoperirii diminurii profitului brut cu
reducerea mai mare a cheltuielilor din activitatea
operaional (rezultatul din activitatea operaional crete).
ns, creterea profitului brut poate fi secondat de
diminuarea profitului operaional (industria buturilor
2012; industria uoar 2011 i 2013; industria mainilor
2012), ceea ce relev c ritmul de cretere a cheltuielilor
operaionale a prevalat asupra ritmului ascendent al
profitului brut, dezvluind gestiunea ineficient a
cheltuielilor operaionale.
Un aspect important al evoluiei rezultatului din
activitatea operaional, necesar s fie analizat, const n
forma rezultatului, adic profit sau pierdere. Rezultatul din
activitatea operaional n form de pierdere indic cea mai
nefavorabil situaie a activitii operaionale. Astfel de
situaie se observ n cadrul industriei uoare, n anul 2012,
cnd nivelul pierderii operaionale a nregistrat o valoare
de peste 5 mln.lei. n contextul unei creteri a veniturilor
din vnzri de 4,98% i o diminuare a profitului brut de
9,03%, considerm c, astfel, cauzele diminurii
rezultatului operaional cu 105,9% i nregistrarea pierderii
au constituit un management al costurilor mai puin
eficient (prevalarea ritmului de cretere a costurilor asupra
ritmului de cretere a veniturilor) i gestiunea neeficient a
cheltuielilor operaionale.
52
2. The financial performance evaluation

of industrial enterprises.
The most relevant indicators of financial
performance evaluation system are those, which
measure the profitability both in absolute terms and
in relative terms.
The financial performance of industrial
enterprises is conditioned by their ability to generate
profit. The analysis of sales revenues and net profit
in dynamic allows to perceive the specificity of each
industry and to identify its problem areas.
We observe based on the table 1 that the
level of sales has an ascending evolution only at
light and machinery industries in analysed period,
while beverage industry shows a decrease of sales
revenues at 24 % in 2014.
The positive dynamics of revenues from
sales does not guarantee an upward trend of other
indicators of profitability. Thus, within each industry
we observe an increase in sales accompanied with
the decrease of gross profit (the beverage industry 2011; light industry - 2012; machinery industry 2014), indicating that the rhythm of increase in the
cost of sales prevailing growth rate of sales
revenues. We appreciate this evolution negatively;
because it reflects a reduction in efficiency of cost
management or commercial activity.
The reduction of income from sales causes,
most commonly, the reduction of gross profit and
the operating profit (beverage industry - 2014). The
more pronounced decreasing rhythm of cost of sales
can diminished the negative effect of the reduction
evolution of sales (gross profit increases), or
covering the decreasing of gross profit by reducing
the costs of operating activity (result from operating
activities increases). However, increased gross profit
may be accompanied by lower operating profit
(beverage industry - 2012; light industry - 2011 and
2013; the car industry - 2012), which reveals that the
growth rate of operating expenses was more
accentuated that the upward trend of gross profit,
revealing ineffective management of operating
expenses.
Important aspect of evolution of the result
from operating activity that should be analysed is the
form of result, profit or loss. The result from
operating activity in the form of loss indicates the
worst case of operational activity. Such situation is
observed in the light industry in 2012 when the
operating loss recorded a value of over 5 million
MDL. In the context of an increase in revenues from
sales at 4, 98% level and a decrease of gross profit at
9.03% level, we suppose that the decrease of
operating result at 105, 9% is caused by efficiency
reduction of cost management (predomination of the
growth rate of costs over the rhythm of income
increasing) and inefficient management of operating
expenses.
Tabelul 1 / Table 1
Evoluia indicatorilor profitabilitii industriilor, lei /
The evolution of industries profitability indicators, lei
Perioada / Period
Indicatori / Indicators
2010
Venituri din vnzri/
Revenues form sales
Profitul brut/ Gross profit
Rezultatul activitii
operaionale / The result
from operation activity
Rezultatul din alte
activiti / The result from
other activities
Profit net/ Net profit
Venituri din vnzri /
Revenues form sales
Rezultatul activitii
Rezultatul din alte
other activities
2011
2012
2013
2014
1. Industria buturilor / beverage industry

4 154 500 4 365 633 5 147 307
5 386
4 093
609
428
012 538 266 675 689
1 301 993 1 270 715 1 445 179
1 514
1 234
387
501
836 055 810 072 019
141 384
266
166 436
199
262 880
977
316 435
106
140 674 160 243

153
341
91 875
575
-103 973 -223 559 -238 750

405
743
013
-92 105 -170 983

404 218 482 861
2 364 359
447
848
612
734
2. Industria uoar / Light industry
2 019 131 2 673 190 2 806 442
3 207
3 840
568
885
003 022 752 833 126
484 857 547 689 498 217 657 783 855 605
639
891
840
230
981
Abaterea relativ, % /
Relative deviation
2011/ 2012 / 2013 / 2014 /
2010 2011 2012 2013
5,08 17,91
4,65 -24,00
-2,40 13,73
4,77 -18,49
17,72 -15,48
13,91 -42,66
20,37
115,02
132,86
19,46 -99,51
32,39
6,79
85,64
3995,58
4,98
14,27 19,76
12,96 -9,03
32,03 30,07
109 146
570
94 990
119 539 246 095
-5 605 921
-12,97
2232,38 105,87
630
317
101
105,90
49 832
760
35 886
-28 282 -15 117
-8 833 063
-27,99
220,19 -46,55
580
738
013
124,61
158 924 130 991

-29 957 69 181 177 070
-17,58
330,93 155,95
202
371
711
486
331
122,87
3. Industria mainilor, echipamentelor i aparatelor / Machinery, equipment and device industry
Venituri din vnzri/
1 215 251 1 609 874 1 956 158
2 875
3 414
Revenues form sales
376
784
124 973 167 704 152 32,47 21,51 47,02 18,73
322 999 439 316 493 969 695 346 638 689
439
408
236
620
567 36,01 12,44 40,77 -8,15
Rezultatul activetii
68 211 127 270 105 256 224 040 182 378
906
676
205
197
156 86,58 -17,30 112,85 -18,60
Rezultatul din alte
28 584
91 512
-53 742 -76 250
other activities
866
455 -8 758 379
606
906 220,14 109,57 513,61 41,88
96 796 218 471
76 809 147 707 81 579
Profit net / Net profit
458
400
317
892
970 125,70 -64,84 92,30 -44,77
Profit net/ Net profit
Sursa: elaborat de autori n baza datelor BNS din Republica Moldova / Source: elaborated by the author
based on NSB from Republic of Moldova
Formarea profitului net este influenat de nivelul
i forma rezultatului din activitatea operaional, precum
i din alte activiti. Analiza evoluiei rezultatului din alte
activiti a artat o evoluie neuniform, dar, din anul
2012, constatm o unanimitate privind forma rezultatului
din alte activiti i anume cel de pierdere. Astfel, criza
Formation of net profit is influenced by the

level and results form from operating activities and
other activities. The analysis of the outcome of other
activities showed uneven developments, but in 2012
we find unanimity about as the form of the result from
other activities - the loss. Thus, the economic, financial
53
economic, financiar i politic i-au lsat amprenta

asupra activitii financiare a ntreprinderilor industriale,
care au suportat cheltuieli financiare enorme, afectnd
formarea rezultatului din alte activiti, prin urmare, i
formarea profitului net. Diminuarea efectului negativ al
pierderii din alte activiti poate fi realizat prin
eficientizarea activitii operaionale, manifestat prin
optimizarea cheltuielilor operaionale i sporirea
profitului operaional. O astfel de abordare se constat n
cadrul industriei mainilor, n care pierderea din alte
activiti, datorit mrimii semnificative a profitului
operaional, nu a afectat formarea profitului net, n timp
ce, n cadrul industriei buturilor, observm situaii
adverse (2013, 2014), cnd pierderea din alte activiti a
nregistrat un nivel superior celui al profitului din
activitatea operaional.
Analiznd comparativ profitabilitatea celor trei
industrii, observm c situaia mai favorabil se
nregistreaz n industria mainilor, echipamentelor i
aparatelor, n care majoritatea indicatorilor profitabilitii
au o dinamic pozitiv, iar pierderea din alte activiti,
nregistrat n anii 2012-2014, nu a afectat formarea
profitului net. Spre deosebire de industria mainilor,
profitabilitatea industriei buturilor i a celei uoare a
evoluat mai puin pozitiv. n anul 2012, pierderea din
activitatea operaional a industriei uoare de circa 5 mln.
lei, nsoit de pierderea din alte activiti n mrime de
circa 8 mln.lei, au determinat nregistrarea pierderii nete
n mrime de circa 29 mln.lei.
Din figura 1, observm c, n anii 2010-2014, cel
mai nalt nivel al veniturilor din vnzri l nregistreaz
industria buturilor, fiind urmat de industria uoar.
Reducerea veniturilor din vnzri ale industriei buturilor
n 2014, dinamica ascendent a veniturilor din celelalte
dou industrii, au determinat diminuarea discrepanei
dintre vnzrile industriilor analizate.
and political crisis influenced negatively the financial

activity of industrial enterprises, which have suffered
enormous financial expenditure, affecting the
formation of earnings from other activities, and
therefore the formation of net profit. Reducing the
negative effect of the loss from other activities can be
achieved through more efficient operational activity,
manifested by optimizing operational costs and
increasing operating profit. Such an approach is found
in the machinery industry, where the loss of other
activities, due to the significant size of operating profit,
did not affect formation of net profit. While in the
beverage industry we observe adverse situations (2013,
2014), while the loss from other activities registered
higher level than the profit from operating activity.
We observe through comparative analysis of
the profitability of three industries that the more
favourable situation is at machinery, equipment and
devices industry, where the majority profitability
indicators have positive dynamics, and the loss from
other activities recorded in the years 2012-2014 did not
affect net profit formation. Unlike the machinery
industry, the profitability of beverage and light
industries have less positive dynamics. In 2012 the loss
from operating activities of about 5 million MDL at
light industry, accompanied by loss of other activities
in the amount of about 8 million MDL, determined the
formation of net loss in the amount of about 29 million
MDL.
From figure 1, during 2010-2014 the highest
level of income from sales is recorded at beverage
industry, followed by light industry. The reduction of
income from the sale at the beverage industry in 2014
and the increase in revenues from the other two
industries determined the reduction of the gap between
sales of analysed industries.
Venituri din vnzri n industria buturilor / Revenues form sales beverage industry
Venituri din vnzri n industria mainilor / Revenues form sales machinery industry
Venituri din vnzri n industria uoar / Revenues form sales light industry
Figura 1. Evoluia comparativ a veniturilor din vnzri pe anii 2010-2014, lei /
Figure 1. Comparative evolution of incomes from sales for the period 2010-2014, MDL
Sursa: elaborat de autor n baza datelor BNS din Republica Moldova /
Source: elaborated by the author based on NSB from Republic of Moldova
54
n acest sens, dac, n anul 2010, diferena dintre

veniturile din vnzri ale industriei buturilor i celei
uoare constituia peste 2 mlrd.lei, n anul 2014, diferena
s-a redus pn la 250 mln.lei. Nivelul vnzrilor industriei
buturilor prevala asupra vnzrilor industriei mainilor cu
circa 3 mlrd. lei, pe cnd, n anul 2014, diferena n vnzri
constituie circa 680 mln.lei.
Din datele figurii 2, observm c nivelul
profitului net din industria buturilor este superior
celorlalte industrii doar n perioada 2010-2011, iar, n
urmtorul an, acesta diminueaz semnificativ de la
482,8 mln.lei la 2,3 mln.lei. Aceast tendin negativ
constituie rezultatul influenei defavorabile a mai
multor factori (criz politic, deprecierea monedei
naionale, dependena de pieele de desfacere externe),
care au determinat, n anii 2013-2014, nregistrarea
pierderii nete n cadrul industriei buturilor 92 mln.
lei i, respectiv, de 170 mln.lei. Evoluia profitului net
al industriei uoare i cel al mainilor indic o tendin
neuniform. Dac, n perioada 2010-2012, profitul net
al industriei uoare se reduce, nregistrnd chiar valori
negative, n anul 2012 29 mln.lei, atunci, n cazul
industriei mainilor, profitul net denot tendine
diferite, pstrnd valori pozitive i reuind, n anii
2012-2013, s nregistreze un nivel superior celorlalte
industrii 76 mln.lei i, respectiv, 147 mln.lei.
In this sense, if in 2010, the difference

between revenues from sales of beverage and light
industry amounted to over 2 billion MDL, in 2014 the
difference was reduced to 250 million MDL. The level
beverage industrys sales prevail machinery industrys
sales about 3 billion. MDL, while in 2014 the
difference in sales is about 680 million MDL.
From the data of figure 2, we observe that the net
profit of beverage industry is higher than at other
industries only during 2010-2011, and the following
year it significantly diminishes from 482.8 million
MDL to 2.3 million MDL. This negative trend is the
result of unfavourable influence of several factors
(political crisis, currency depreciation, dependence on
foreign markets), leading to formation of net loss in
years 2013-2014 in the beverage industry - 92 million.
MDL and, respectively, 170 million MDL. The
evolution of net profit of light and of the machine
industries shows an irregular trend. If during 20102012 the net profit of light industry reduced even
recorded negative values in 2012(-29 million MDL),
then the net profit of machinery industry describes
different trends, keeping positive and succeeding in the
years 2012- 2013 to record superior levels that at other
industries - 76 million MDL and, respectively, 147
million MDL.
Profitul net n industria buturilor / Net profit of beverage industry

Profitul net n industria mainilor / Net profit of machinery industry
Profitul net n industria uoar / Net profit of light industry
Figura 2. Evoluia comparativ a profitului net pe anii 2010-2014, lei/
Figure 2. Comparative evolution of net profit for the period 2010-2014, MDL
Sursa: elaborat de autor n baza datelor BNS din Republica Moldova/
Aprecierea aspectului calitativ al indicatorilor
profitabilitii ne permite analiza indicatorilor rentabilitii,
n ansamblu cu indicatorii creterii veniturilor din vnzri i
a activelor totale (tabelul 2). Dinamica ascendent a
The appreciation of the qualitative aspect of

profitability indicators is allowed by the analysis of
return indicators alongside with growth indicators of
sales revenue and of total assets (table 2). The upward
55
indicatorilor rentabilitii comerciale, observat n cadrul

industriei buturilor i celei uoare, n anii 2013 i 2014,
industriei mainilor n 2011, indic eficientizarea activitii
de comercializare a bunurilor industriale i se apreciaz
pozitiv.
Valorile negative ale profitului pn la impozitare
i a profitului net determin nregistrarea nivelelor sub zero
ale indicatorilor rentabilitii economice i celei financiare
(industria buturilor 2013, 2014; industria uoar 2012), ceea ce semnific faptul c ntreprinderile
industriale nu reuesc s utilizeze eficient capitalul su, att
cel total, ct i cel propriu.
Indicatorii creterii relev tendinele generale ale
industriei, indicnd vectorul modificrii acesteia spre
cretere sau diminuare. n cazul industriei buturilor se
observ o evoluie neuniform a acestor indicatori, astfel
ca, n anul 2014, att indicatorul creterii vnzrilor, ct i
indicatorul creterii activelor s nregistreze nivele
negative, semnificnd o restrngere a activitii n acest
domeniu. n perioada 2010-2013, observm c indicatorii
creterii industriei buturilor au nregistrat nivele pozitive.
ns, o comparaie a indicatorilor creterii cu cei ai
rentabilitii au artat c creterea, cu excepia anului 2011,
n cazul creterii activelor i anul 2013, n cazul creterii
veniturilor, nu a fost una eficient, cci nu a fost nsoit de
o sporire a rentabilitii vnzrilor sau economice.
trend of commercial return indicators observed in the

beverage industry and the light in the years 2013 and
2014, the machinery industry in 2011, indicates a more
efficient marketing activity of industrial goods and that
we appreciates positively.
Negative values of profit before taxation and
of net profit levels determined the negative levels of
economic and financial return indicators (the beverage
industry 2013, 2014; light industry - 2012), which
means that industrial enterprises fail to use their total
and own capitals efficiently.
Growth indicators reveal general trends in the
industry, indicating the vector of its modification increase or decrease. If at the beverage industry there
is an uneven development of these indicators, such as
2014, both sales growth indicator, as well as assets
growth recorded negative levels, signifying a
restriction of activity in this area. In the period 20102013 we note that the beverage industry growth
indicators showed positive levels. However, a
comparison of great indicators with the rates of return
showed that growth, with the exception of 2011 in
case of assets growth and 2013 in case of sales
growth, was not effective because it was not
accompanied by an increase in return of sales or in
economic return.
Tabelul 2 / Table 2
Evoluia indicatorilor rentabilitii, creterii veniturilor din vnzri i activelor totale
ale industriilor, % / Evolution of return indicators, sales growth and assets growth indicators of
industries, %
Perioada / Period
Indicatorii / Indicators
2010
2011
2012
2013
2014
1. Industria buturilor/ beverage industry

Rentabilitatea vnzrilor / Return on
31,34 29,11 28,08 28,11 30,15
Sales
Rentabilitatea costurilor / Return on
45,64 41,06 39,04 39,10 43,16
Costs
Rentabilitatea economic / Return on
3,71
4,38
0,32 -0,52 -1,33
Assets (economic return)
Rentabilitatea financiar/ Return on
9,56 10,35
0,05 -1,98 -4,50
equity (financial return)
Creterea veniturilor vnzrilor/
21,70
5,08 17,91
4,65 -24,00
Sales growth
Creterea activelor totale/ assets
2,71
1,29
5,22
4,67 -9,15
growth
2. Industria uoar/ Light industry
24,01 20,49 17,75 20,51 22,28
Sales
31,60 25,77 21,58 25,80 28,66
Costs
6,27
4,57 -0,48 2,72
6,02
14,66 11,45 -2,69 5,32 13,49
56
Abaterea relativ, % /
Relative deviation
2011/ 2012/ 2013/ 2014/
2010 2011 2012 2013
-7,12
-3,54
0,11
7,25
-10,05
-4,92
0,16
10,38
17,92 -92,78 -264,83
155,33
-4104,
126,86
06
-76,58 252,32 -74,04
616,42
-52,39 304,64 -10,54
296,13
8,27 -99,52
-14,68 -13,35
15,54
8,61
-18,46 -16,23
19,54
11,08
-27,03 -110,54 -663,43 121,68

-21,86 -123,44 -298,11 153,50

25,40 32,39 4,98 14,27 19,76 27,51 -84,61 186,35 38,46
Sales growth
10,10 12,82 4,65 12,17
1,63 26,84 -63,70 161,61 -86,59
growth
3. Industria mainilor, echipamentelor i aparatelor/ Machinery, equipment and device industry
26,58 27,29 25,25 24,18 18,70
2,67 -7,46 -4,25 -22,64
Sales
36,20 37,53 33,78 31,89 23,01
3,67 -9,99 -5,61 -27,85
Costs
5,29
9,49 4,40 4,91
3,04 79,46 -53,68 11,71 -38,09
9,45 16,03 5,89 10,46
6,11 69,68 -63,28 77,67 -41,60
25,28 32,47 21,51 47,02 18,73 28,44 -33,76 118,60 -60,16
Sales growth
+1313,
14,14 25,95 -4,78 57,98
0,65 83,53 -118,41
-98,87
growth
56
Sursa: elaborat de autor n baza datelor BNS din Republica Moldova / Source: elaborated by the
author based on NSB from Republic of Moldova
n cazul industriei uoare, observm c indicatorii
creterii nregistreaz valori pozitive, ns, aceasta nu se
apreciaz pozitiv, cu excepia anului 2013, cci creterea
vnzrilor sau a activelor nu a fost nsoit de creterea
indicatorilor rentabilitii comerciale sau economice, ceea ce
relev c industria uoar nu reuete s realizeze eficient
strategia de cretere.
O situaie mai favorabil se observ n cadrul
industriei mainilor, echipamentelor i aparatelor. Pe lng
aceea c att vnzrile, ct i activele au avut o tendin de
sporire, n anii 2011 i 2013, aceast sporire se apreciaz
drept una eficient, cci creterea veniturilor din vnzri este
condus de sporirea rentabilitii comerciale, iar creterea
activelor este nsoit de creterea rentabilitii economice.
ns, aceeai tendin nu se pstreaz n urmtorii ani,
activele i vnzrile industriei mainilor continu s creasc,
n contextul diminurii rentabilitii, reflectnd incapacitatea
industriei s realizeze strategia sa de cretere n condiii de
eficien.
Din figura 3, observm c rentabilitatea vnzrilor
descrie o evoluie neuniform n cadrul industriilor analizate.
Industria buturilor i pstreaz nivelul superior al
rentabilitii vnzrilor fa de celelalte industrii analizate,
fiind precedat de industria mainilor, care i cedeaz locul,
n 2014, industriei uoare, aceasta manifestnd o eficien
mai mare a activitii comerciale cu 3,58 p.p. dect industria
mainilor sau cu 9,87 p.p. mai puin dect industria
buturilor.
Analiza comparativ a evoluiei indicatorilor
rentabilitii economice i a celei financiare (figura 4)
dezvluie c cele mai nalte nivele nregistreaz industria
uoar (2010, 2014) i industria mainilor (2011-2012). Iar
industria buturilor, care manifest o eficien sporit a
activitii comerciale, nregistreaz valori inferioare, uneori,
i negative (2013, 2014), evideniind o gestiune defectuoas
a capitalului industrial.
In light industry, we observe that the indicators of

growth recorded positive values, but this is not appreciated
positively, with the exception of 2013, because the growth
of sales and of assets was not accompanied by increase of
commercial return and economic return indicators, which
reveals that light industry does not succeed to implement an
effective growth strategy.
A more favourable situation is observed in the
machinery, equipment and devices industry. Besides
that both sales as well as assets growth indicators
tended to increase in the years 2011 and 2013, this
increase is estimated to be one effective as sales
growth
is accompanied by commercial return
increasing and assets growth is followed by economic
return increase. But the trend is not kept in the
following years, assets and sales of machinery industry
continue to grow in context of decreasing return rates,
reflecting disability of the industry to realize its growth
strategy in terms of efficiency.
In figure 3 we observe that return on sales
describes the uneven developments in the analysed
industries. Beverage industry keeps higher level of
return on sales than the other analysed industries,
followed by the machinery industry, which changes its
position in 2014 with the light industry that shows a
higher efficiency of commercial activity with 3.58 p.p.
than the machinery industry or 9.87 p.p. less than the
beverage industry.
Comparative analysis of development of
economic and financial return indicators (figure 4)
reveals that the highest levels is recorded at light
industry (2010, 2014) and at machinery industry (20112012). The beverage industry, which shows a high
level of efficiency commercial activity, recorded
lowest and sometimes negative (2013, 2014) levels of
economic and financial rates of return, pointing out a
mismanagement of industrial capital.
57
Rentabilitatea vnzrilor industriei buturilor / Return on sales beverage industry

Rentabilitatea vnzrilor industriei mainilor / Return on sales machinery industry
Rentabilitatea vnzrilor industriei uoare / Return on sales light industry
Figura 3. Evoluia comparativ a rentabilitii vnzrilor pe anii 2010-2014, % /

Figure 3. Comparative evolution of return on sales for the period 2010-2014, %
Un aspect important al aprecierii indicatorilor
creterii const n compararea ritmului creterii
veniturilor cu cel al creterii activelor totale. Astfel,
prevalarea creterii veniturilor asupra creterii
activelor se apreciaz pozitiv, deoarece contribuie la
accelerarea rotaiei capitalului, adic la creterea
performanei financiare.
An important aspect of the assessment of growth

indicators is the comparison of revenue growths
rhythm to the trend of total assets growth. Thus the
prevalence of sales growth on assets growth is
assessed positively as it contributes to acceleration of
capital turnover, which determines the increase of
financial performance.
Rentabilitatea economic a industriei buturilor / Return on assets beverage industry

Rentabilitatea economic a industriei uoare / Return on assets light industry
Rentabilitatea financiar a industriei mainilor / Return on assets machinery industry
Rentabilitatea financiar a industriei buturilor / Return on equity beverage industry
Figura 4. Evoluia comparativ a rentabilitii economice i rentabilitii financiare pe anii 2010-2014, % /

Figure 4. Comparative evolution of return on assets and return on equity for the period 2010-2014, %
58
Veniturile din vnzri ale industriei buturilor au

sporit cu un ritm superior celui al activelor n perioada 20102013, contribuind la accelerarea rotaiei capitalului, ceea ce
se apreciaz pozitiv, ns, n 2014, veniturile au sczut cu
24% prevalnd asupra ritmului de reducere a activelor (9%),
determinnd o ncetinire a rotaiei capitalului, ceea ce se
apreciaz negativ. n cazul industriei mainilor, veniturile au
crescut mai intens dect activele, cu excepia anului 2013,
determinnd eliberri de resurse. Industria uoar manifest
o tendin ferm de prevalare a ritmului creterii veniturilor
asupra ritmului creterii activelor, fapt pe care l apreciem ca
pozitiv.
Revenues from sales of beverage industry

increased by a higher rate than that of the assets over
the period 2010-2013, helping to accelerate the rotation
of capital, which is considered positive, but 2014
revenues decreased by 24% prevailed rate reduction of
assets (9%), detecting a slowing of the rotation of
capital, which is considered negative. In case of the
machinery industry, revenue grew more intense than
assets, with the exception of 2013, determining the
release of resources. Light industry reveals a prevailing
trend of sales growth rate over growth rate of assets,
which we consider positive.
Concluzii
Evaluarea comparativ a performanei financiare a
industriilor buturilor, uoar i a mainilor, prin prisma
dimensiunilor de profitabilitate, rentabilitate i cretere, a
dezvluit o situaie mai favorabil n cadrul industriei
mainilor, care manifest tendine ascendente att din punct
de vedere cantitativ, ct i calitativ. Industria buturilor se
distinge printr-un nivel superior al veniturilor i rentabilitii
comerciale, ns diminuarea eficienei activitii operaionale
i altor activiti amenin profitabilitatea industriei
respective, aceasta observndu-se, n ultimii ani, prin
diminuarea nivelului vnzrilor i nregistrarea pierderii
nete. Industria uoar manifest tendine neuniforme n
dinamica indicatorilor profitabilitii, fluctuaiile rezultatului
operaional cauzeaz formarea pierderii nete ntr-un an
(2012), ca, n urmtoarele perioade, s acopere pierderile din
ali ani i s determine un nivel superior al profitului net fa
de alte industrii.
Conclusions
Comparative evaluation of the financial
performance of the beverage, light and machinery
industries through the profitability, return and growth
dimensions revealed a more favourable situation in the
machinery industry, which shows upward trends both
in terms of quantity and quality. The beverage industry
is characterized by a higher level of income and return
on sales, but low level of the efficiency of operational
and other activities threatens the profitability of this
industry, that it is noticed in recent years by reducing
the levels of sales and recording net loss. Light
industry manifested the uneven profitability dynamic,
fluctuations in operating result causes the formation of
net loss in one year (2012), but in the next period it is
able to cover losses from other activities and to
determine the superior level of net profit compared to
other industries.
1.
2.
3.
4.
5.
6.
Baza de date a Biroului Naional de Statistic al RM; online: http://www.statistica.md/
HARRINGTON, H. J., Management total n firma secolului 21. Editura Teora, Bucureti, 2000.
MURPHY, G. B., TRAILER, J. W., & Hill, R. C., MEARUSING performance in entrepreneurship
research. Journal of Business Research, 36, 1996, p.15-23.
ROBU V., SANDU R., Problematica analizei performanelor o abordare critic n contextul teoriilor
informaiei i guvernanei corporative, Revista Economie Teoretic i Aplicat nr.8, p. 15-28, 2006.
TULVINSCHI M., Situaiile financiare anuale principal furnizor de informaii economice i financiare.
The International Conference European Integration New Challenges for Romanias Economy, Analele
Universitii din Oradea, Seciunea tiine Economice, ISSN 1582-5450, pp. 495 499, 4 pg., 2006.
ZHU J., Quantitative Models for Performance Evaluation and Benchmarking, Data Envelopment Analysis
with Spreadsheets Second Edition, Springer Science+Business Media, ISBN-13: 978-0-387-85981-1, 2009,
267 p.
59
APLICAREA TAXELOR PENTRU

UTILIZAREA RESURSELOR
BIOLOGICE N REPUBLICA
MOLDOVA I RECOMANDRI
DE REFORMARE A ACESTORA
APPLICATION OF TAXES FOR

USE OF BIOLOGICAL
RESOURCES IN MOLDOVA AND
RECOMMENDATIONS FOR ITS
REFORMING
Conf. univ.dr., Petru BACAL, ASEM
PhD Petru BACAL, ASEM
n prezenta lucrare, este efectuat o analiz

complex a metodologiei taxelor pentru utilizarea
resurselor biologice din Republica Moldova. Sunt
identificate problemele principale ale implementrii
taxelor respective i propuse recomandri concrete de
reformare a acestora. Aria de aplicare centralizat a taxei
pentru utilizarea resurselor biologice este foarte restrns,
fiind axat pe lemnul recoltat din fondul silvic de stat.
ncasrile taxelor pentru lemn sunt foarte mici pentru a
suporta costurile necesare de conservare i restabilire a
resurselor forestiere. Principalele recomandri elaborate
de autor pentru reformarea taxelor pentru resursele
biologice se axeaz pe extinderea ariei de taxare i pe
majorarea cuantumului de plat pentru recoltarea masei
lemnoase.
Cuvinte-cheie: taxe, resurse biologice, lemn,
reformare.
JEL: Q15, Q57
The paper gives a complex analysis of the

methodology of taxes for use of biological resources in the
Republic of Moldova. There have been identified the main
problems of implementation of those taxes and made
recommendations for its optimization. The area of
centralized application of fees for use of biological
resources is very limited, being focused on harvested
timber from state forest fund. The tax revenues for wood
are very small to support the conservation and restoration
costs of forest resources. The main recommendations
made by the author for reforming of taxes for use of
biological resources are focused on extension of taxation
area and on increasing the quantum of payment for
harvested timber.
Key words: taxes, biological resources, wood,
reforming.
JEL: Q15, Q57
Introducere. Per ansamblu, Republica Moldova se

caracterizeaz printr-un deficit acut de terenuri ecologic
stabilizatoare, n special, a ariilor forestiere protejate, dar i
printr-o pondere foarte mare (55%) a terenurilor arabile [2,
p. 60, 88], ceea ce condiioneaz un presing sporit asupra
funciilor ecoproductive i asupra biodiversitii teritoriului
respectiv. n pofida cadrului legal existent de creare a
reelei ecologice naionale, majoritatea componentelor
acestora au un caracter formal, iar resursele financiare
alocate sunt foarte modeste i utilizate netransparent i
ineficient.
Pentru redresarea situaiei n acest domeniu, n anii
2000, au fost demarate un ir de programe i strategii,
printre care menionm: Programul privind restaurarea
terenurilor degradate, Strategia de dezvoltare durabil a
fondului forestier [6], Strategia i Planul de aciuni privind
conservarea diversitii biologice [10]. Conform acestor
documente strategice, pentru asigurarea adecvat a
funciilor productive i ecologice ale pdurii n condiiile
fizico-geografice i ecologice ale Republicii, suprafaa
terenurilor mpdurite trebuie s depeac 15% (500 mii
ha) din teritoriul naional, ceea ce ar nsemna majorarea cu
peste 100 mii ha a suprafeelor actuale.
Ca urmare a reducerilor multiple a alocaiilor
bugetare pentru autoritatea silvic central, n ultimii ani
(2010-2015), se constat o diminuare semnificativ a
suprafeelor noi mpdurite i a volumului lucrrilor de
reconstrucie ecologic a pdurilor [3, p. 69-73; 11], dar i
o majorare semnificativ a lucrrilor de recoltare a masei
60
Introduction
Overall, the Republic of Moldova is characterized
by an acute shortage of ecological stabilizing land,
especially of forest-protected areas, but also by a high
share (55%) of arable land [2, p. 60, 88], which
conditioned a high pressing on eco-productive functions
and biodiversity of this territory. Despite of existing of
legal framework for the creation of national ecological
network, most of their components have a formal
character, and the allocated financial resources are very
modest and used non-transparent and inefficient.
In order to improve the situation in this area, in
the 2000s have started a number of programs and
strategies, among which Program for restoration of
degraded lands, Strategy of sustainable development of
forest sector [6], National Strategy and Action Plan for
Biodiversity Conservation [10]. According to these
strategic documents, in order to ensure adequate
productive and ecological functions of forest, in the
physical-geographical and ecological conditions of the
Republic, forest areas shall exceed 15% (500,000 ha)
of national territory which would mean an increase of
over 100 thousand hectares of existing areas.
Because of multiple reductions of budget
allocations for central forestry authority, in the last
years (2010-2015), there was a significant decrease of
volume of new-forested surfaces and of works volume
for ecological restoration of forests [3, p. 69-73; 11].
At the same time, it has found a significant increase of
timber harvesting works for accumulation of necessary
lemnoase pentru a suplini mijloacele financiare necesare

gestionrii fondului forestier de stat. Aceast situaie
alarmant afecteaz grav funciile ecoproductive i
sanitaro-igienice ale pdurilor, diversitatea biologic a
acestora. Totodat, executarea adecvat a lucrrilor de
conservare i reconstrucie ecologic, precum i a altor
lucrri silvice nu trebuie axat doar pe alocaiile bugetare.
Conform Directivelor UE, managementul resurselor
naturale trebuie asigurat prin mecanismul de compensare a
costurilor de folosin, n care taxele i tarifele pentru
utilizarea resurselor naturale ocup un rol central.
1.Cadrul juridic al implementrii taxelor
pentru utilizarea resurselor biologice
n Republica Moldova, pentru valorificarea
resurselor biologice, sunt aplicate dou tipuri principale de
taxe: 1) pentru recoltarea masei lemnoase (lemnul eliberat
pe picior); 2) pentru dreptul de colectare i dobndire a
speciilor de plante i animale. Plile pentru dreptul de
colectare i dobndire a speciilor de plante i animale sunt
achitate sub form de: a) bilete silvice, n scopul colectrii,
n limitele permise, a plantelor medicinale, fructelor,
pomuoarelor i ciupercilor [1, p. 262]; b) permise de
colectare a plantelor n scopuri cognitive sau de cercetare
tiinific; c) licene de vntoare i pescuit, acordate
contra plat de asociaiile de vntori i de Serviciul
Piscicol; d) permise de pescuit, acordate de gestionarii sau
operatorii bazinelor acvatice; e) permise pentru intrarea n
zonele recreaionale special amenajate; f) bilete de vizitare
a ariilor protejate.
Conform capitolului 8 al Titlului VIII al Codului
Fiscal [4], subieci ai taxelor pentru lemnul eliberat pe
picior sunt beneficiarii forestieri, n calitate de persoane
juridice i fizice, indiferent de tipul de proprietate i forma
juridic de organizare i beneficiarii forestieri persoane
fizice rezidente care nu practic activitate de ntreprinztor.
Aria de aplicare a taxei respective cuprinde lemnul extras
din pdurile din fondul forestier (fondul silvic de stat,
pdurile comunale i private, spaiile verzi) i din cele din
afara fondului forestier (perdelele forestiere de pe
terenurile agricole i plantaiile de arbori i arbuti situate
de-a lungul cilor de comunicaie i pe terenurile fondului
acvatic). Perimetrele silvice i cotele de recoltare sunt
stabilite n funcie de regimul de exploatare, planul de
activitate a gospodriilor silvice i limitele recoltrii masei
lemnoase aprobate de ctre autoritile ecologice
teritoriale. Beneficiarii forestieri care nu practic activitate
de ntreprinztor achit taxa pn la obinerea autorizaiei
necesare, eliberate de gospodria silvic n cauz.
Pe terenurile fondului silvic de stat, arborii sunt
selectai pentru recoltare de ctre inginerii silvici. Pentru
sectoarele cu valoare ecologic i tiinific deosebit, este
necesar Avizul autoritilor ecologice i al Academiei de
tiine [5]. Pentru recoltarea masei lemnoase din pdurile
comunale, spaiilor verzi sau altor deintori, este nevoie
de acordul specialitilor n domeniul florei i faunei din
cadrul Ageniilor i Inspeciilor Ecologice teritoriale i de
lucrtori silvici, care s coordoneze cu aceste lucrri.
financial means for the management of the state forest

fund. This alarming situation seriously affects ecoproductive and sanitary-hygienic functions of forests,
their biological diversity. However, adequate execution
of conservation and ecological restoration works and
other forestry works should not be focused only on the
budgetary allocations. According to EU directives,
management of natural resources must be ensured
through a compensation mechanism of use costs, in
which the taxes and tariffs for use of natural resources
plays a central role.
1. Legal framework of the implementation of
taxes for use of biological resources
In the Republic of Moldova, for the exploitation
of biological resources are applied two main types of
taxes: 1) tax for harvesting of wood (on timber
standing); 2) payments for the right to collect and
acquiring of plant and animal species. Payments for the
right to collect and acquiring of plant and animal
species are paid in the form of: a) forestry tickets, for
the purpose of collecting, within the permitted limits,
of medicinal plants, fruit, berries and mushrooms[1, p.
262]; b) permits for collecting of plants in cognitive or
scientific purposes; c) hunting and fishing licenses,
granted, against payment, by hunting associations and
Fisheries Service; d) fishing permits granted by
managers or operators of water basins; e) permits for
entry into arranged recreational zones; f) tickets for
visiting the protected areas.
According to Chapter 8 of Title VIII of the Tax
Code [4], the subjects of the tax for timber harvesting
are the forestry beneficiaries, legal entities and
individuals, regardless of the type of property, who do
not practice entrepreneurial activities. The application
area of this tax include the timber harvesting from
forest fund (state forest fund, communal and private
forests, green spaces) and outside of it (forest
shelterbelts on agricultural land and plantations of trees
and shrubs situated in along the ways of
communication and water fund lands). Forest
perimeters and harvesting quotas are established on
function by the exploitation regime, the Action Plan for
Forest Enterprises and on the limits of timber
harvesting approved by local environmental
authorities. Forestry beneficiaries who do not practice
entrepreneurial activities, paid tax until obtain
necessary authorization issued by the respective forest
enterprise.
On the states forest land, trees are selected for
harvesting by forest engineers. For the areas with
ecological and scientific value, it is necessary Advise of
the environmental authorities and opinion of the
Academy of Sciences [5]. For harvesting of the wood
mass from communal forests, green spaces or other
owners, it is necessary agreement of specialists in the
flora and fauna of Environmental Agencies and
Inspections and of forest workers, to coordinate with
these works.
61
2. Metodologia de calcul i aplicare a taxei

pentru lemnul eliberat pe picior
Conform Anexei 3 a Titlului VIII al Codului Fiscal,
cotele taxei pentru recoltarea masei lemnoase se stabilesc n
funcie de specia forestier, de categoria materialului lemnos
i destinaia lemnului eliberat pe picior (tabelul 1). n cazul
lemnului de lucru, mrimea taxei variaz i n funcie de
dimensiunea arborilor recoltai.
2. The calculation and application

methodology of the tax for timber harvesting
According to Annex 3 of Title VIII of the Fiscal
Code, the tax rate for timber harvesting is determined
depending on the forest species, on category of wood
material and on destination of standing timber (table 1).
In the case of wood for work, the amount of the tax
varies depending on the size of harvested trees.
Tabelul 1/ Table 1
Cotele taxelor pentru lemnul eliberat pe picior / The tax rates for harvesting timber
Nr.
crt.
1.
2.
Specia forestier permis pentru

recoltarea masei lemnoase/ The
forest tree species allowed for
timber harvesting
Taxa pentru 1m3, n lei/ The tax for 1m3, in MDL

Lemn de lucru (fr scoar)/Wood for work
Lemn de foc
(without bark)
(cu scoar)/
Firewood
Mare/big
Mijlociu/middle Mic/small
(with bark)
1998- 2004- 1998- 2004- 1998- 2004- 1998- 20042003 present 2003 present 2003 present 2003 present
7,80
16
5,58
11
3,06
6
0,90
2
7,20
14
5,04
10
2,64
5
0,84
2
Pin/pine
Molid/spruce
Stejar, frasin, paltin (arar), fag/
3.
13,80
28
10,20
20
5,22
10
1,50
3
Oak, ash, sycamore, beech
4. Salcm/acacia
12,60
25
9,30
19
4,56
9
1,50
3
Cais, cire, dud, mr, pr/apricot,
5.
21,60
43
15,00
30
7,80
16
1,50
3
cherry,mulberry, apple, pear
Mesteacn, ulm, tei, carpen, gldi/
6.
7,80
16
5,58
11
3,18
6
1,26
2
Birch, elm, linden, hornbeam, glad
Plop tremurtor, plop, salcie/ apen,
7.
5,16
10
3,36
7
2,16
4
0,84
2
poplar, willow
8. Nuc/walhut
25,80
52
18,60
37
13,20
26
0,84
2
9. Salcie (lozie)/willow (osier)
0,84
2
Diverse tipuri de arbori tari/
22
18
8
2
10.
Various types of hard trees
Diverse tipuri de arbori moi/
11.
9
6
3
2
Various types of soft shafts
Diverse tipuri de arbori coniferi/
12.
12
9
4
2
Various types of conifers
Sursa: elaborat de autor dup anexa respectiv a Legii Bugetului de Stat pentru anii 1998-2005 i Anexa nr. 3
a Titlului VIII din Codul Fiscal al Republicii Moldova / Source: elaborated by author after respective Annex of State
Budget Law for 1998-2005 years and Annex no. 3 of Title VIII of the Fiscal Code of the Republic of Moldova.
Cotele cele mai mari sunt stabilite pentru
speciile de valoare industrial, alimentar, comercial
i ecologic maxim. Astfel, cea mai mare tax este
aplicat pentru lemnul de nuc (52 lei/m3), cais, cire,
pr, mr i dud (43 lei/m3). Cotele minime sunt
stabilite pentru speciile moi (conifere, plopi, salcie).
Pentru lemnul de foc din coroan, cuantumul taxei
constituie 40%, iar pentru nuiele, crci, ramuri, cioturi
i rdcini defriate, destinate folosirii n calitate de
combustibil 20% din taxa stabilit pentru lemnul de
foc din speciile respective.
Lacunele principale ale metodologiei existente:
a. Metodologia actual de taxare a utilizrii
resurselor biologice stipulat n Codul Fiscal se
bazeaz exclusiv pe valoarea economic direct a
masei lemnoase recoltate i livrate [3, p. 42], fiind
62
The maximum tax rates are established for

species with the highest industrial, food, commercial
and ecological value. Thus, the highest fee is applied to
walnut (52 MDL/m3, apricot, cherry, pear, apple and
mulberry (43 MDL/m3). Minimum fee is established
for the soft species (conifers, poplar, willow). For
firewood from crown, the amount of tax is 40%, and
for switch, branches, stubs and roots grubbed, intended
for use as fuel (for fire) 20% of the fee set for
respectively firewood species.
The main gaps of the current methodology:
a. The current methodology of taxation for use
of biological resources stipulated in the Fiscal Code is
based exclusively on the economic value of directly
and delivered timber harvested [3, p. 42], and it is
reported only to market value of extracted forest
raportat doar la valoarea de pia a speciei forestiere

extrase i la cheltuielile operaionale ale
ntreprinderilor silvice necesare pentru executarea
lucrrilor de recoltare i transportare a masei
lemnoase. Aceasta nu ine cont de valoarea complex
a suprafeelor i speciilor forestiere, precum i de
cheltuielile publice necesare conservrii, restabilirii i
proteciei fondului forestier.
b. Cotele taxei pentru recoltarea masei lemnoase
nu sunt raportate la gradul de asigurare cu pduri, spaii
verzi i alte tipuri de vegetaie forestier (perdele de
protecie a rurilor, cmpurilor agricole i arterelor de
transport) i la starea ecologic a acestora, la raportul dintre
volumul emisiilor i gradul de mpdurire, la calitatea
aerului i situaia sanitaro-igienic a localitilor.
c. Metodologia de calcul a taxei pentru masa
lemnoas recoltat, stipulat n capitolul 8 al Titlului VIII
al Codului Fiscal, nu este ajustat la anexele Codului Silvic
[5], care stipuleaz includerea n formula de calcul al
prejudiciului ecologic rezultat din extragerea arborilor din
mediul natural i cheltuielile pe termen lung de restabilire a
suprafeelor forestiere respective.
d. Cotele taxei pentru lemnul eliberat pe picior
nu sunt ajustate la preurile reale de livrare a masei
lemnoase, ceea ce condiioneaz creterea lent a
ncasrilor taxelor respective.
3. Dinamica ncasrilor taxelor pentru
lemnul eliberat pe picior
n ultimii ani, de la toate ntreprinderile silvice,
pentru recoltarea masei lemnoase s-au acumulat doar
cte cca 400 mii lei (figura 1). Suma ncasrilor este
condiionat de cererea i volumul de mas lemnoas
recoltat, volumul lemnului recoltat supus taxrii,
precum i de situaia economic general. n pofida
pauperizrii rapide a populaiei din anii 90,
depopularea masiv a spaiului rural a condiionat
diminuarea cererii la materialul lemnos, n special
pentru foc. n plus, criza economic din anii 20082010 s-a rsfrnt negativ i asupra sectorului forestier
i capacitii de plat a consumatorilor respectivi, ceea
ce a condiionat ncasrile minime din anii respectivi.
species and to operational expenditure of forestry

enterprises, which are necessary for the execution of
harvesting and transporting works of wood mass. It
does not account for the complex value of forest
surfaces and species, as well as and public expenditure
necessary for the conservation, restoration and
protection of forest fund.
b. The tax rates for harvesting timber are not
adjusted to the insurance degree with forests, green
spaces and with other types of forest vegetation
(protection belts of rivers, agricultural fields and of
transportation arteries) and to their environmental
status, to ratio between the volume of emissions and
afforestation degree, to air quality and sanitaryhygienic situation of localities;
c. The calculation methodology of the tax for
the harvested timber, stipulated in the chapter 8 of Title
VIII of the Fiscal Code, is not adjusted to the annexes
of the Forest Code, which stipulates the inclusion in the
calculation formula the environmental damages
resulting from the extraction of trees from the natural
environment and long-term costs of restoring of these
forest areas [5];
d. The tax rates for harvesting timber are not
adjusted to the actual prices for wood delivery, what
makes a slow increase in fees receipts.
3. The dynamics of tax revenues for timber
harvesting
In recent years, from all forest companies, for
timber harvest contingent was accumulated only about
400 thousand MDL (figure 1). The amount of revenues
is dependent on the demand and the volume of timber
harvested mass, volume of timber harvesting subject to
taxation, and on the general economic situation.
Despite the rapid pauperization of the population in 90
years, massive depopulation of rural areas has
conditioned the reduction of demand for wood,
especially for firewood. In addition, the 2008-2010
economic crises had a negative impact on the forestry
sector and on the ability to pay of these consumers,
which conditioned minimum revenues of those years.
Figura 1. Dinamica ncasrilor taxelor pentru lemnul eliberat pe picior, n milioane MDL /
Figure 1. Dynamics of tax revenues for timber harvesting, in millions MDL
Surse: Figura 1 i tabelul 2 sunt elaborate de autor dup datele din Rapoartele anuale ale Inspectoratului
Fiscal Principal de Stat privind ncasrile taxelor pentru utilizarea resursele naturale./ Sources: Figure 1 and
Table 2 are prepared by the author according to the data from Annual Reports of the Fiscal Inspectorate on
taxes revenues from use of natural resources.
63
Sumele maxime au fost ncasate n raioanele

mai mpdurite sau unde se afl sediul gospodriilor
silvice, precum Hnceti, Cahul, Ocnia, Rcani,
oldneti, Clrai i Streni (tabelul 1). Unele
gospodrii silvice, care cuprind cteva raioane, au
acumulat i transferat pn la 10 mii lei fiecare, iar
altele nu au acumulat niciun leu (Drochia,
Basarabeasca, Dubsari, Taraclia). n plus, frecvent,
unele raioane nu au oferit informaia necesar privind
ncasrile silvice [8, 9], iar lipsa informaiei a fost
nregistrat ca lips a ncasrilor respective, ceea ce nu
corespunde realitii.
The maximum amounts were received in most

afforested districts or where are situated the headquarter
of forest companies, as well in Hancesti, Cahul, Ocnia
Rcani, Soldanesti, Calarasi and Straseni (table 1). Some
forest management, which include several districts, are
accumulated and transferred each until 10 thousand MDL,
while others (Drochia, Basarabeasca, Dubsari, Taraclia)
have not accumulated those taxes. In addition, some
districts frequently have not provided the necessary
information regarding forest revenues [8, 9], and lack of
information was recorded as the lack of those revenues,
which does not reflect the reality.
Tabelul 2/ Table 2
Dinamica teritorial a ncasrilor taxelor pentru lemnul eliberat pe picior, n mii lei /
The spatial dynamics of tax revenues for timber harvesting, in thousand MDL
UAT/ATU
1
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
64
Briceni
Ocnia
Edine
Dondueni
Drochia
Soroca
Floreti
Rcani
Glodeni
Fleti
Bli
Sngerei
Regiunea
de Nord /
Northern
Region
oldneti
Rezina
Teleneti
Orhei
Criuleni
Dubsari
Anenii Noi
Ialoveni
Streni
Clrasi
Ungheni
Nisporeni
Hnceti
Raioanele
Centrale /
Central
districts
2003
2004
2005
2006
0
0
27,7
0
0
29,2
2,1
0
19,5
0
5,4
0
0*
0*
54,7
0*
0*
0
0,1
43
0
12,3
5,3
0*
0*
0*
25,7
0,4*
0,4*
44,1
45
16,5
10
9,5
0
0*
17,7
17,7
13,9
2,3
0*
0
5,6
24,9
25,3
15,8
0
0*
84
115
151
46,4
0
4,7
0
0
0
0
12,6
16,1
6,3
29,2
30,6
30,6
0,7
0
6,6
22
0,7
0*
23,6
16,5
21
13,6
17,1
35,5
25,1
177
182
Anii/Years
2007 2008 2009
2010
2011
2012
2013
10
11
12
13
14
22,9
32,1
10,4
11,5
0*
0*
0*
27,5
12,9
6
0
0*
19,3
25,7
11,6
7,9
0
0
-5,6
16,9
12,7
2,6
0
0
15,5
22,3
11,9
13,9
0
0
0
18,8
13,2
3,7
0
0
20,9
17,8
10,4
8,0
0
0
0
3,8
4,1
1,5
0,7
12,9
19,9
22,4
11,3
15,9
0
11,5
6,0
17,1
14,5
4,4
0,7
19,3
28,3
17,1
4,6
20,6
0
6,5
8,8
13,8
27,7
4,6
6,9
14,3
19,5
3,4
11
0
6,7
16,5
8,3
9,2
1,5
3,8
0,6
17
19
8,1
10,1
0
12,9
17,5
11,1
14,8
2,7
11,1
0
123
123
91
99
80
143
139
95
124
44,4
7
7,4
0
0,7
0*
56,1
10
28,8
0
4,8
7,8
35,8
43,7
3
6
44
2,4
0*
27,1
9,3
16,5
16,9
7,1
17,3
33
24,5
0*
6,2
7,4
2,1
0*
15,9
10,1
23,6
24,6
6,2
9,4
42,6
0
0
4,9
21,6
0,1
0
10,6
9,3
2,4
21,3
7,3
11,7
25,1
0
0
11,3
61,4
0,9
0
11,1
14,5
2,7
20,3
4,3
7
26,7
0
0
3
31,9
0,7
0
7,4
9,8
1,6
25
2,8
0,7
14,9
5,3
7,1
3,7
25,6
0,8
0
11,3
8,8
14,9
45,1
2,9
1,5
45,2
32,6
10,9
8,2
43
0
0
8,6
8,2
3,0
34,9
3,9
12,2
31,9
26,1
11,9
5,6
37
0,5
0
14,4
23,5
4,7
50
10
6,8
42,1
46,7
18,8
7,3
26,9
2,9
0
8,2
6,1
6,4
57
15,7
7,4
48,8
203
226
173
114
160
98
172
197
233
252
2014
10
11
12
13
14
25,5
4,8
2,6
2,2
2,9
1,3
0,5
0,3
0,8
4,4
3,7
4,5
202
187
205
229
176
116
161
98
173
202
236
257
33,5
0
0
0
4,3
1,6
6,8
7,8
5,6
11,6
5,4
5,5
14,4
10,5
7,9
12,6
7,4
4,7
16,3
4,6
3
15,7
9,2
1,0
10
4,0
2,5
7,9
6,7
2,1
8,0
8,5
1,0
7,2
1,9
4,1
0
Basarabeasca
24,6
Leova
0
Cantemir
55,9
Cahul
0
Taraclia
UTA
0
Gguzia
Regiunea
de Sud /
114
Southern
Region
400
Total
0*
0*
0*
0*
24
0,8
105
0*
0*
0*
28,4
0*
0*
4,6
24,3
0*
0*
0*
32,3
0*
0
0
10,7
0
0
0,4
21,5
0
0
0
28,9
0
6,8
0
27,2
2,4
0
0
11,4
1,0
0
0
25,2
0
5,9
0,8
32,2
2,4
0,1
31,7
136
49
52
65
67
46
55
53
29
43
55
438
405
403
364
274
306
233
369
370
374
436
26. Chiinu
Regiunea
de Centru /
Central
Region
27. Cueni
28. tefan-Vod
29. Cimilia
30.
31.
32.
33.
34.
35.
4. Problemele aplicrii i administrrii taxelor

pentru utilizarea resurselor biologice
Aria de aplicare a Codului Fiscal actual, n
domeniul resurselor biologice i biodiversitii, este
foarte restrns i include doar masa lemnoas recoltat
[4], excluznd produse i servicii deosebit de valoroase i
importante, precum produsele vegetale accesorii (fructele
i pomuoarele, ciupercile, plantele medicinale),
produsele cinegetice i piscicole, serviciile turistice i
recreaionale, serviciile de reglementare i asisten
oferite, n special, de ecosistemele forestiere.
Taxa pentru lemnul eliberat pe picior nu se aplic
n cazul n care acesta a fost recoltat de ctre
ntreprinderile silvice i APL-uri n procesul executrii
lucrrilor de reconstrucie ecologic, conform
Amenajamentului Silvic, planurilor de cercetare,
proiectare i gospodrire a ntreprinderilor silvice,
precum i dispoziiilor autoritilor ecologice. De
asemenea, taxa respectiv nu se aplic n cazul lichidrii
efectelor calamitilor naturale, precum i a altor lucrri
silvice legate de ngrijirea pdurilor.
Excluderea taxelor pentru recoltarea masei
lemnoase pentru ntreprinderile silvice i transparena
foarte redus a acestor lucrri au, ca rezultat, sume foarte
modeste de ncasri ale taxelor respective. Scutirea
ntreprinderilor silvice de taxele pentru recoltarea
lemnului, n cazul executrii unui spectru foarte variat de
lucrri incluse n categoria reconstruciei ecologice,
luptei cu duntorii sau de amenajament silvic etc.,
reprezint, frecvent, un paravan i o modalitate legal de
tinuire a volumului real de mas lemnoas recoltat i
de evaziune fiscal legal n acest domeniu, ceea ce se
4. The problems of application and

administration of tax for timber harvesting
The scope of the current Tax Code in the field
of biological resources and biodiversity is very
restricted and include only timber harvested [4],
excluding the very valuable and important products and
services, as well as accessories vegetable products
(fruits and berries, mushrooms, medicinal plants),
hunting and fishing products, touristic and recreational
services, regulatory and support services offered,
especially by forest ecosystems.
The tax for timber harvesting does not apply if it
was harvested by forestry companies and local
authorities in the process of execution of the
environmental restoration, according on the Forest
Arrangement, research, design and management plans
of forestry enterprises, as well as on the provisions of
environmental authorities. Also, this tax is not applied
in the case of the liquidation of the effects of natural
disasters and for other forestry works related to the care
of forests.
Excluding of fees for the timber harvested by
forestry enterprises and very low transparency of these
works, along with other shortcomings in the forest
management, as a result, very modest sum of these
revenues. The exemption of forestry companies by the
fees for timber harvesting, when running a varied
spectrum of works included in the ecological
reconstruction category, combating of pests or forest
arrangement works etc., frequently represent a firewall
and a legal way of concealment of the real volume of
timber harvested and of legal tax evasion in this area,
65
rsfrnge substanial asupra ncasrilor i veniturilor

silvice oficiale i capacitii bugetelor raionale de a
finana msurile necesare de protecie i restabilire a
reelei ecologice.
Procedura actual de aplicare a taxelor pentru
recoltarea masei lemnoase este orientat, cvasi-exclusiv,
spre obinerea efectelor fiscale pentru suplinirea
bugetelor locale, iar efectele economice i ecologice sunt
foarte mici. Suma ncasrilor silvice nu ajunge pentru
finanarea lucrrilor publice necesare de conservare i
restabilire a pdurilor i biodiversitii nici pentru o
gospodrie silvic sau raion, nemaivorbind de ntreaga
Republic, pentru care, conform documentelor strategice
n domeniu [6, 10], sunt necesare peste 100 mln. lei
anual.
Asupra datelor oficiale ale veniturilor silvice nu
influeneaz doar volumul masei lemnoase exploatate,
scutirile fiscale sau alte cauze obiective, dar i
transparena redus a activitilor i veniturilor reale ale
exploatrii fondului silvic i cinegetic [1, p. 265]. n
acelai timp, majoritatea absolut a pdurilor de lng
localiti sunt intens supuse defririlor, iar drumurile
forestiere, pe care se transport lemnul recoltat, sunt
foarte dense i totdeauna proaspete.
5. Recomandri de reformare a taxelor pentru
utilizarea resurselor biologice:
Racordarea metodologiei de calcul al taxelor
pentru utilizarea resurselor biologice, stipulate n
capitolul 8 al Titlului VIII al Codului Fiscal, la cerinele
folosirii contra plat a resurselor naturale i
recuperrii, de ctre beneficiari, a costurilor de folosin
i restabilire a resurselor i ecosistemelor naturale,
stipulate n Legea privind resursele naturale (art. 19.2)
[7] i Directivele UE n acest domeniu (92/43/EEC).
n scopul sporirii gradului de compensare a
costurilor publice necesare pentru restabilirea i
conservarea pdurilor se propune majorarea cotelor
taxelor pentru lemnul eliberat pe picior cu cca 30%
pentru primii 2 ani, timp n care se va putea determina
feedback-ul pltitorilor acestei taxe i se vor evalua
efectele economice i ecologice iniiale. Ulterior, n
conformitate cu stipulrile Directivelor UE privind
recuperarea costurilor de folosin a resurselor naturale,
trebuie continuat majorarea treptat cu 50-70% pentru
o perioad de 4-5 ani (conform strategiilor sectoriale i
ciclurilor electorale). O variant alternativ de majorare a
cotei taxelor pentru lemn ar fi ajustarea cotei actuale la
rata inflaiei din ultimii 3 ani i indexarea ulterioar a
acesteia.
Includerea n cuantumul taxei pentru
lemnul eliberat pe picior a coeficienilor care ar reflecta:
1) gradul de asigurare cu pduri i spaii verzi a zonei
respective; 2) bonitatea i starea ecologic a pdurilor,
n care se recolteaz lemnul; 3) categoria funcional i
regimul de protecie stabilit pentru suprafeele supuse
exploatrii; 4) volumul emisiilor raportat la suprafaa
silvic i numrul populaiei; 5) costul de conservare i
66
which is significantly reflected on the official revenues

and incomes of the forest sector and on the capacity of
districts budget to finance measures for protected and
restored the ecological network.
The current procedure of tax application for the
harvesting of timber is oriented almost exclusively
towards obtaining the fiscal effects for supplement the
local budgets, and economic and environmental effects
are very small. The amount of revenues is not enough
to finance the provision of necessary public works for
the conservation and restoration of forests and
biodiversity, nor in a household or forestry department
nor for one forestry company or district, let alone the
entire country, for which, according to strategic
documents in the field [6, 10, it is needed more than
100 million MDL annually.
On the official data of forest revenues
influences not only the volume of exploited wood
mass, tax exemptions or other objective causes, such as
the reduced transparency of the activities and real
income of exploitation of the forest and wildlife funds
[1, p. 265]. At the same time, the absolute majority of
forests near settlements are subject to intense
deforestation, and forest roads whereon are transported
the harvested timber, are very dense and always fresh.
5. Recommendations to reform the taxes for
use of biological resources:
The adjustment of calculation methodology
of fees for the use of biological resources, stipulated
in the chapter 8 of Title VIII of the Fiscal Code, to the
requirements of paid use of natural resources, and of
recovering, by beneficiaries, the costs of usage and
restoration of natural resources and ecosystems,
which are stipulated in Law on Natural Resources (art.
19.2) [7] and EU Directive in this field (92/43 / EEC).
In order to increase the compensation degree
of public costs necessary for forests restoration and
conservation, it is proposed to increase the normative
tax for harvesting of timber with over 30% for the first
2 years, while it will be able to determine feedback of
these tax payers and will evaluate the first economic
and ecological effects. Subsequently, in accordance
with provisions of EU Directives regarding cost
recovery for use of natural resources, to be continued
gradual increase by 50-70% for a period of 4-5 years
(according to the sectorial strategies and electoral
cycles). An alternative form of increasing the
normative tax for wood may be adjustment of current
quota to the inflation rate in the last 3 years and its
subsequent indexing.
Inclusion in the amount of tax for harvesting
timber the coefficients that would reflect: 1) degree of
provision with forests and green spaces of this area; 2)
the creditworthiness and ecological status of forests, in
which wood is harvested; 3) the functional category
and the established protection regime for areas, which
are subjected to exploitation; 4) the volume of
emissions reported to forest area and to population
restabilire a speciilor i suprafeelor forestiere

exploatate; 6) prejudiciile ecologice complexe cauzate
mediului prin extragerea materialului lemnos i
defriarea suprafeelor forestiere; 7) cheltuielile
administrrii publice a resurselor respective. Aplicarea
cotelor difereniate a taxelor pentru lemnul eliberat pe
picior, n funcie de gradul de mpdurire a teritoriului, va
contribui la sporirea capacitii de finanare a APL-urilor
i ntreprinderilor silvice din zonele deficitare cu pduri.
Extinderea ariei de aplicare a taxelor pentru
utilizarea resurselor biologice prin: a) excluderea
scutirilor taxelor pentru recoltarea masei lemnoase
aplicate ntreprinderilor silvice i APL-urilor, precum i a
scutirilor aplicate pentru recoltarea produselor silvice
accesorii i celor piscicole; b) extinderea, n conformitate
cu articolul 21 al Legii privind resursele naturale [7], a
obiectului impunerii taxelor pentru utilizarea resurselor
biologice, inclusiv asupra produselor silvice accesorii i
produselor piscicole recoltate i includerea prevederilor
respective n Codul Fiscal; c) aplicarea taxei pentru
serviciile ecosistemice, n special pentru serviciile
recreaionale i turistice din parcurile naionale i alte
categorii de arii naturale protejate atractive; d)
combaterea exploatrilor neautorizate a resurselor
forestiere i a evaziunii fiscale n acest domeniu.
Excluderea scutirilor menionate i extinderea
obiectului impunerii asupra produselor i serviciilor
cinegetice, produselor silvice accesorii, produselor
piscicole, serviciilor recreaionale i turistice ar majora
semnificativ (cu cca 30%) ncasrile taxelor pentru
utilizarea resurselor biologice. Aceste msuri ar spori
capacitatea APL i a gestionarilor silvici i piscicoli de a
executa msurile publice necesare de conservare i
restabilire a resurselor biologice i biodiversitii.
Elaborarea cadrului legal i metodologic
necesar pentru evaluarea integral i taxarea serviciilor
ecosistemice, n conformitate cu experiena pozitiv
internaional: Ghidurile de implementare a Directivelor
UE n acest domeniu, Strategia privind conservarea
biodiversitii [10] , Strategia privind dezvoltarea
durabil a sectorului forestier [6], Rapoartele Naionale
IV i V cu privire la evaluarea biodiversitii i altor
documente strategice n domeniul respectiv.
Evidena strict i integral a masei
lemnoase i produselor silvice accesorii, a produselor
piscicole recoltate i a altor categorii de obiecte i
complexuri floristice i faunistice.
n scopul contracarrii folosirii neautorizate a
resurselor forestiere i evaziunii fiscale n acest domeniu,
este neaprat necesar extinderea ariei de eviden i
contabilizare centralizat, precum i asigurarea
transparenei activitii ntreprinderilor silvice. De
asemenea, este necesar exercitarea adecvat a
controlului fiscal i ecologic la ntreprinderile respective.
Aplicarea necondiionat a sanciunilor
administrative i penale pentru nerespectarea
prevederilor legale privind evidena rezervelor i
recoltrii de mas lemnoas, produselor silvice accesorii
number; 5) the cost of conservation and restoration of

exploited forest species and forest areas; 6) the
complex ecological damage caused to the environment
by extracting of timber and deforestation from forest
areas; 7) public expenditure for administration of forest
resources. The application of differentiated rates of tax
for harvesting timber, depending on the afforestation
degree of the territory, will contribute to enhancing the
financing capacity of LPA (local public authorities)
and of forest enterprises from deficiently forest areas.
Extension of application area of tax for use
of biological resources by: a) excluding tax
exemptions for timber harvest contingent, which are
applied to forest enterprises and LPA and for
harvesting the accessories forestry products and the
fisheries products; b) the extension, in accordance with
Article 21 of the Law on Natural Resources [7], of the
taxation object for use of biological resources,
including the harvested accessories forestry products
and the fisheries products, and the inclusion of these
provisions in the Fiscal Code; c) application of the
taxes for ecosystem services, especially for recreational
and tourist services provided in the national parks and
in the other attractive protected areas; d) combating the
unauthorized exploitation of forest resources and the
fiscal evasion in this field.
Excluding of mentioned exemptions and
extending of taxation object on the hunting products
and services, accessories forestry and fishery products,
recreational and tourist services would increase (over
30%) revenues of the taxes for use of biological
resources. These measures would increase the capacity
of LPA and of forestry and fisheries managers to
execute the necessary public measures for conservation
and restoration of biological resources and biodiversity.
Elaborating of necessary legal and
methodological framework for integrated assessment
and taxation of ecosystem services, in accordance with
international good experience, Guidelines for
implementation of EU Directives in this area, Biodiversity
Conservation Strategy (2015-2020) [10], Strategy for the
sustainable development of the forestry sector [6],
National Reports IV and V on the valuation of
biodiversity and other strategic documents in the field.
The strict and full evidence and accounts of
wood and accessories forestry products, of harvested
fishery products and of other categories of floristic and
fauna objects and complex.
In order to combatting the unauthorized use
of forest resources and tax evasion in this area is
absolutely necessary extension of centralized evidence
and accounting, as well as ensuring transparency of
forestry enterprises. It is also necessary to adequate
exercise of fiscal and environmental control to these
enterprises
Unconditional application of administrative and
penal sanctions for breaching of legal provisions on the
evidence of reserves and harvesting of wood, of accessories
67
i cinegetice, produse piscicole i a altor obiecte i

complexuri floristice i faunistice.
forest products and hunting and fishery products and other

objects and complex of flora and fauna.
1. BACAL P. Economia proteciei mediului. Chiinu: ASEM, 2007, p. 265.
2. BEJAN I. Utilizarea terenurilor n Republica Moldova. Chiinu: ASEM, 2010, p. 88-95.
3. BUDIANSCHI D., GUAN I., BACAL P., GALUPA D., ERMURACHI V. Eficiena i transparena
utilizrii resurselor fondului forestier. Centrul Analitic Independent Expert Grup, Chiinu, 2013, 88 p.
4. Codul Fiscal al RM. Titlul VIII. Taxele pentru resursele naturale (nr. 67 din 05.05.2005). n: Monitorul
Oficial nr. 080 din 10.06.2005
5. Codul Silvic (nr. 887 din 21.06.1996). Monitorul Oficial nr. 4-5 din 16.01.1997.
6. HG nr. 739 din 17.06.2003 cu privire la implementarea Strategiei Dezvoltrii Durabile a Sectorului
Forestier Naional. n: Monitorul Oficial nr. 126 din 27.06.2003
7. Legea nr. 1102 din 06.02.1997 cu privire la resursele naturale. n: Monitorul Oficial nr. 40 din 19.06.1997.
8. Inspectoratul Fiscal Principal de Stat. Informaia privind ncasarea taxelor pentru resursele naturale pe
unitile administrativ teritoriale n anii 2003-2007.
9. Rapoartele anuale (2008-2014) privind ncasrile la Bugetul Public Naional administrate de Serviciul
Fiscal de Stat.
10. Strategia naional i Planul de aciuni n domeniul conservrii diversitii biologice (2011-2020, 20152020).
11. http://www.moldsilva.gov.md /Despre-Agentie/Management-financiar, citat la 15.09.2015.
68
ACCEPIUNI ALE CONCEPTULUI

DE RISC N ACTIVITATEA DE
ANTREPRENORIAT
Conf. univ. dr. Neli MUNTEAN, ASEM,
Dr. Iulian MUNTEAN, UASM
Orice ntreprindere ce tinde s se nscrie n
exigenele economiei de pia, indiferent de profilul de
activitate, forma juridic, dimensiunea i spaiul
socioeconomic n care activeaz, este nevoit s se adapteze
permanent la situaiile riscante, care pot aprea att n
activitatea curent, ct i n cea de perspectiv.
Astfel, problema evalurii i managementului
riscurilor are o importan semnificativ n domeniul
teoriei i practicii manageriale, planificrii i
controlului intern al ntreprinderii.
Studiul diverselor abordri ale noiunii risc
se caracterizeaz printr-o varietate destul de mare a
definiiilor cu caracter teoretic i aplicativ. Fr o
nelegere justificat a esenei riscului, este imposibil
a formula unele recomandri de analiz i eviden a
acestuia n activitatea de antreprenoriat.
n prezenta lucrare, este elaborat, aprobat i propus
spre utilizare un nou concept al noiunii de risc n activitatea
de antreprenoriat, generat de intenia de a majora
eficacitatea ntregului proces n domeniu. Prezena acestor
aspecte ale investigaiei tiinifice atribuie articolului
originalitate i actualitate.
Cuvinte-cheie: risc n activitatea de
antreprenoriat, metode de evaluare a riscurilor,
profit, pierderi, pericol.
JEL: O17, B5, M410
Introducere. Noiunea de risc, n activitatea
economic, exist nc din cele mai vechi timpuri. Posibil
c ea este martor al activitii contiente a omului. Anume,
din acest motiv, n orice limb, ea constituie noiunea
iniial a vorbirii cotidiene, care se utilizeaz zilnic, n cele
mai diverse situaii i fa de cele mai diverse fenomene,
cu mici nuane referitoare la coninutul ei.
Scopul i obiectivele articolului constau n
generalizarea principiilor teoretice, evidenierea i gruparea
celor mai reuite abordri i definiii cu privire la noiunea
risc, argumentarea coninutului economic al unei
asemenea categorii, precum riscul n activitatea de
antreprenoriat.
n procesul cercetrii, s-au aplicat metoda
universal a dialecticii i procedeele acesteia: inducia
i deducia, analiza i sinteza, abstracia tiinific,
analogia, corelarea, precum i metodele economicomatematice, economico-statistice i cele ale analizei
economice de prelucrare a informaiei: compararea,
gruparea etc. Drept baz teoretic i metodologic de
cercetare au servit lucrrile fundamentale ale
savanilor din Republica Moldova, Romnia, S.U.A.,
CONCEPTS OF RISK IN
ENTREPRENEURIAL ACTIVITY
Assoc. Prof., PhD Neli MUNTEAN, ASEM
PhD Iulian MUNTEAN, SAUM
Every enterprise tending to meet the demands of
the market economy, irrespective of the activity profile,
legal form, dimension and socio-economic space where
it activates, has to adapt all the time to the risky
situations likely to appear both in the current activity,
and in the perspective one.
Thus, the problem of the risks evaluation and
management has a significant importance in the field
of the management theory and practice, internal
planning and control of the enterprise.
The study of different approaches regarding the
risk concept is characterised by a large variety of
theoretical and applicative definitions. It is impossible
to formulate some recommendations of risk analysis
or/and assessment in entrepreneurial activity without
knowing the justified essence of risk concept.
In the work hereby, a new concept of risk in
entrepreneurial activity has been elaborated, approved
and proposed for use, generated by the intent to
increase the efficacy of the whole process in the field.
The presence of these aspects of scientific investigation
gives the article originality and update.
Key words: risk in the entrepreneurial activity,
method of evaluating the risks, profit, losses, danger.
JEL: O17, B5, M410.
Introduction. The term risk has existed since
ancient times in the economic activity. Possibly, it is
the witness of the conscious human activity. From this
very reason, it is the starting notion in any daily
language, used in the most diverse situations and
against the most varied phenomena, with small scents
related to its content.
The goal and objectives of the article consist
in generalizing theoretical principles, emphasizing and
grouping the most successful approaches and
definitions of the term risk, argueing the economic
content of such a category as the risk in
entrepreneurial activity.
During the research, the universal method of
dialectics has been used, along with its principles:
induction and deduction, analysis and synthesis,
scientific absraction, analogy, correlation, as well as
the
economic-mathematical,
economic-statistical
methods and those of economic analysis for
information procession: comparison, grouping, etc. The
theoretical and methodological basis of research are the
primary works of the scientists from Moldova,
Romania, USA, the CIS states, as well as from other
states, normative and legislative acts of Moldova (the
law of accountancy, National Standards of
69
statele C.S.I. i din alte ri, actele normative i

legislative
ale
Republicii
Moldova
(Legea
contabilitii, Standardele Naionale de Contabilitate
(S.N.C.), Codul civil etc.), Standardele Internaionale
de Raportare Financiar (S.I.R.F.) etc.
1. Tratri privind noiunea de risc
Experiena istoric arat c riscul neobinerii
rezultatelor scontate a nceput s se manifeste, ndeosebi,
n perioada apariiei relaiilor marf-bani, a concurenei
participanilor la circuitul economic. De aceea, odat cu
dezvoltarea relaiilor capitaliste, apar i diverse teorii cu
privire la risc, clasicii teoriei economice manifestnd o
atenie semnificativ cercetrii problemelor aferente
riscului n activitatea de antreprenoriat.
Analiznd literatura de specialitate consacrat
riscurilor n activitatea economic [9, 13, 14, 15, 31,
33], constatm c nu exist o prere unic referitoare
la noiunea de risc. Aceasta se explic, n special, prin
aspectul multilateral al acestui fenomen mai puin
accentuat pn n prezent de legislaia economic
naional cu privire la activitatea de antreprenoriat [18; 36, 37]. n plus, riscurile reprezint un fenomen
complex, care posed o mulime de principii
contradictorii, uneori, chiar incompatibile. Aceasta
ofer posibilitatea existenei diferitelor tratri privind
noiunea de risc sub diverse aspecte.
Noiunea de risc este utilizat n diverse tiine.
n fiecare din ele, studierea riscului deriv din obiectul
cercetrii tiinei n cauz i se bazeaz pe metodele i
tratrile proprii. n continuare, vom examina unele
abordri, definiii i tratri ale noiunii de risc n limita
unui concept concret asupra acestei probleme.
n dicionarul lui Webster, riscul este definit
drept pericolul unei pierderi sau daune materiale.
Deci, riscul se refer la posibilitatea apariiei unei
anumite situaii nefavorabile [34].
Un interes anumit l provoac tratarea riscului
n dicionarul explicativ al limbii vii al lui Dall: a
risca nseamn a porni ntr-un noroc, la o afacere
nesigur, ... a aciona curajos, cu ingeniozitate,
spernd la noroc [35]. Adic, a risca nseamn a face
ceva fr calcule, fr evaluare. ns, trebuie
menionat c evaluarea riscului este menit a nu
lichida riscul, ci a-l optimiza pentru ndeplinirea
sarcinii primordiale a activitii de antreprenoriat. Este
interesant c riscul se menioneaz ca un satelit al
spiritului ntreprinztor, ceea ce este just.
Teoria riscului n activitatea de antreprenoriat a
luat natere n rile cu economie de pia dezvoltat.
P. Hizrici meniona c noiunea de risc n activitatea
de antreprenoriat s-a rspndit n sec. XVII, atunci
cnd antreprenor a fost numit persoana ce a
ncheiat contract cu statul n vederea ndeplinirii unei
munci sau serviciu [31 p.39]. Cu toate acestea, cel
mai activ au nceput s fie studiate diferite aspecte ale
riscului la sfritul sec. XIX nceputul sec. XX. Au
aprut o serie de teorii, elaborate pe principiul
responsabilitii obiective pentru contribuire (riscul
70
Accountancy (S.N.C.), the civil code, etc.),

International Standards of Financial Reporting
(S.I.R.F.), etc.
1. Different definitions regardind the term risk
In historic experience shows the risk of nonobtaining the expected results started appearing along
with the goods-money relations, the competition of the
participants in the economic circuit. That is why once
the capitalist relations develop, different risk theories
start coming out, the economic theory classics proving
significant research to the risk-related problems in the
entrepreneurial activity.
Having analysed the specialized literature
dedicated to the economic activity risks [9, 13, 14, 15,
31, 33], we can conclude there is not just one single
opinion regarding the term risk. It can be explained,
especially, by the multilateral aspect of this
phenomenon, which is not so emphasized in the
national economic legislation related to entrepreneurial
activity [1-8; 36, 37]. Besides, the risks are a complex
phenomenon with varied contradictory principles,
sometimes even not compatible. As a result, the term
risk acquires different definitions, under different
aspects.
The term risk is used in various sciences. Each of
these studies the term risk from the perspective of the
object of research, based on own methods and
definitions. Hereinafter, we shall examine a few of the
approaches, definitions and meanings of the term risk
within limits of a concrete concept about this problem.
According to Websters dictionary, the risk is
described as the danger of a material loss or damage.
So, the risk refers to the possibility of unfavourable
situation to appear [34].
Special interest is given to the definition of the
term risk in Dalls live explanatory dictionary: to risk
means start by fortune an unsure business, act
courageously, with skill, hoping for luck [35]. More
exactly, to risk means to do smth without having
calculated, without evaluation. It should be noted
though that the risk evaluation is not meant to liquidate
the risk, but to improve it for the primary task of the
entrepreneurial activity. It is interesting that the risk is
mentioned as a satellite of the entrepreneurial spirit,
which is a right thing.
The risk theory in entrepreneurial activity was
born in the countries with a developed market
economy. P. Hizrici was saying that the term risk in
entrepreneurial activity spread over in the XVIIth
century, when entrepreneur was named that person
who signed a contract with the state for a service or
labour [31 p.39]. Nevertheless, definitions of the risk
started being studied under different aspects in late
XIXth early XXth centuries. A number of theories
appeared, elaborated on the principle of objective
responsibility for contribution (integral risk, the risk
of usual actions, the theory of the professional risk,
etc.)
integral, riscul aciunilor neobinuite, teoria

riscului profesional etc.)
n literatura economic contemporan, se
evideniaz dou teorii ale riscului clasic i neoclasic.
Conform teoriei clasice, ai crei reprezentani
de vaz sunt John Stuart Mill i Senior, n structura
profitului antreprenorului, se evideniaz un procent
din capitalul investit, salariul capitalistului i plata
pentru risc (ca despgubire pentru riscul posibil legat
de activitatea de antreprenoriat). O astfel de abordare
unilateral a riscului a cauzat o critic dur din partea
economitilor. Generaliznd prerile expuse n teoria
clasic, putem meniona c riscul se identific cu
probabilitatea de a suporta pierderi i pagube
materiale sau cu sperana matematic a pierderilor,
care poate aprea ca rezultat al realizrii deciziei i
strategiei alese [31 p.62].
Teoria neoclasic a fost elaborat, n anii 20-30 ai
secolului XX, de ctre economitii A. Marshall i A.
Pigou. Adepii acestei teorii consider c, ntreprinderea,
care i desfoar activitatea n condiii de incertitudine,
trebuie s in cont de dou elemente: mrimea profitului
ateptat i mrimea abaterilor lui posibile.
Comportamentul antreprenorului, conform acestei teorii,
se identific cu concepia profitului maximal. Acest fapt
presupune c dac, de exemplu, este necesar s se aleag
ntre dou proiecte investiionale, care aduc acelai profit,
se alege acel proiect n care variaiile profitului sunt mai
mici. Din teoria neoclasic a riscului, rezult c profitul
garantat are o valoare mai mare dect profitul ateptat n
aceeai mrime, dar afectat de posibile variaii.
Completnd teoria neoclasic, John M. Keynes i-a
ndreptat atenia spre noiunea nclinaie spre risc, adic
luarea n considerare a factorului de satisfacie n urma
apelrii la risc, ceea ce sugereaz urmtoarea concluzie:
pentru ateptarea unui profit mare, antreprenorul poate s
recurg la risc [22, p.120].
Astfel, teoria neoclasic identific riscul cu
posibilitatea abaterii de la scopul propus. Deci,
conform teoriei neoclasice, antreprenorul, activnd n
condiii de incertitudine, obine profit care este
considerat o variabil neconstant i, la ncheierea
unui contract, se conduce de dou criterii:
a) mrimea profitului preconizat;
b) mrimea abaterilor de la profitul perioadei
anterioare.
O asemenea tratare identific, n final, anumite
abordri metodologice, care permit a analiza
activitatea agenilor economici i a determina regulile
i criteriile de care se conduc antreprenorii i
managerii n realizarea activitii de antreprenoriat, n
alegerea i luarea deciziilor corecte pentru fiecare
situaie creat.
Este necesar s se sublinieze caracterul
condiional n delimitarea abordrilor colii clasicilor
i neoclasicilor. Dac, n primul caz, orientarea
presupune pericolul de a suporta pierderi ca urmare a
devierii de la scopul propus, n cel de-al doilea, esena
There are two risk theories in contemporary

economic literature classic and neoclassic.
According to the classic theory, the main
representatives of which are John Stuart Mill and Senior,
the structure of the entrepreneurial profit includes one
percent of the invested capital, the salary of the
capitalism and the risk payment (as compensation for the
risk likely linked to the entrepreneurial activity). Such a
unilateral approach of the risk caused the economists
harsh critique. By generalizing the opinions expressed in
the classic theory, it can be said that the risk is identified
with the probability of suffering material loss or
damages, or with the mathematical expectation of the
loss, likely to appear as a result of the decision and
strategy selected. [31 p.62].
The neoclassic theory was elaborated in the 20es30ies of the XXth century by the economists A.
Marchall and A. Pigou. These theory scholars think
that the enterprise activating in uncertain conditions
should take into consideration two elements: the
amount of the expected profit and the amount of its
possible deviations. The entrepreneurs behavior,
according to this theory, is identified with the concept
of the maximal profit. It implies that if, for example,
they need to select amongst two investment projects
leading to the same profit, and they would choose the
one that has less profit variations. In line with the
neoclassic risk theory, the guaranteed profit has a
higher value than the profit expected in the same
amount, but cornered by possible variations. By
completing the neoclassic theory, John M. Keynes
drew his attention towards the term inclination
towards risk, meaning taking into consideration the
satisfaction factor as a result of calling for the risk,
which implies the following conclusion: to gain a big
profit, the entrepreneur is likely to risk [22, p.120].
Thus, the neoclassic theory identifies the risk with
the possibility of deviation from the proposed objective.
Therefore, according to this theory, the entrepreneur that
activates in uncertain conditions is obtaining profit, which
is considered an unstable variable, and, when signing a
contract, it leads to two criteria:
a) the amount of the planned profit;
b) the amount of the deviations from the profit of
the last period.
Such an approach identifies, in the end, certain
methodological approaches, which allow analyzing the
activity of the economic agents and determining the
rules and criteria that the entrepreneurs and managers
follow in their activity of entrepreneurship, in selecting
and taking correct decisions in each of the created
situations.
It is necessary to emphasize the conditional
character while delimitating the approaches of the
classic school, and the neoclassic one. If in the first
case, the orientation implies the danger of suffering
loss as a result of the deviations from the planned
objective, in the second case, their essence is the
71
reprezint realizarea scopului, iar nregistrarea

pierderii este cauza devierii de la scopul propus.
Fr o nelegere justificat a esenei riscului
este imposibil a face unele recomandri de analiz i
eviden a acestuia n activitatea de antreprenoriat. De
aceea, n continuare, vom ncerca s selectm i s
clasificm cele mai reuite abordri, definiii i noiuni
existente cu privire la risc, n funcie de coninutul
acestora, n 3 grupe mari (vezi tabelul 1.1).
objective, and the loss is the cause of the deviation

from the planned objective.
Without a justified understanding of the risk
essence, it is impossible to make recommendations for its
analysis and registration record in the entrepreneurial
activity. That is why, hereinafter, we will try to select and
classify the most successful existing risk approaches,
definitions and terms, depending on their content, in 3 big
groups (see table 1.1).
Tabelul 1.1/ Table 1.1

Gruparea celor mai reuite abordri, definiii i noiuni cu privire la risc n funcie de coninutul acestora
/ Grouping of the Most Successful Risk Approaches, Definitions and Terms depending on Their Content
Autorul/ Author
Siropolis N.C.
Cernova G. V.
Ilienkova N. D.
Raisberg B. A.
Srbu I.
Rostrighin L.
Hedgetts Mehr
Bocikai T.,
Messen D.
Marenkov N. L.
Grabovi P. G.
72
Definiia
GRUPA I
Riscul antreprenorului presupune probabilitatea
de a suporta pierderi financiare [29].
Prin risc economic, se nelege o oarecare
posibilitate de apariie a pierderii, msurat n
expresie bneasc [32].
Se concepe raional determinarea riscului
economic ca posibilitate (probabilitate) a
pierderilor, care apar la adoptarea i realizarea
deciziilor economice [21].
Riscul este ameninarea, pericolul apariiei
pagubei, n sensul larg al cuvntului, iar riscul
antreprenorului este pericolul potenial posibil al
unei pierderi probabile a resurselor sau al
ncasrii insuficiente a veniturilor n comparaie
cu varianta cnd are loc utilizarea raional a
resurselor n tipul dat de activitate de
ntreprinztor [28, p.43].
Riscul reprezint pericolul eecului, pierderilor
imprevizibile [12, p.10].
Riscul este ameninarea, pericolul apariiei
pierderilor posibile [12, p.10].
Riscul poate fi definit drept posibilitate ca
pierderile s fie mai mari dect se ateapt [15].
GRUPA a II-a
Riscul presupune abaterea de la scop, n
vederea realizrii cruia s-au luat anumite
decizii [18].
Riscul este pericolul devierilor nedorite de la
strile ateptate ale viitorului, pe seama crora
se adopt deciziile n prezent. Devierile pozitive
se refer la o circumstan norocoas, cele
negative la pericolul de a nregistra pierderi.
Prin riscul antreprenorului se subnelege
riscul, care apare n orice tip de activitate, legat
de producere, comercializarea mrfurilor sau
prestarea serviciilor, de vnzarea lor, operaiile
de marf-bani i financiare, de efectuarea
proiectelor social-economice i tehnicotiinifice [26].
Prin risc, se nelege probabilitatea
(pericolul) ca o ntreprindere s piard o parte
din resursele sale, diferena de venituri
Definition
GROUP I
The entrepreneurs risk implies the possibility of
suffering financial loss [29].
By economic risk we understand a certain
possibility of the loss, expressed in money [32].
Rationally, they consider the economic risk as a
possibility (probability) for a loss, which appears
when taking and realizing economic decisions
[21].
The risk is the threat, the danger of the damage
in the broad meaning of the word, and the
entrepreneurs risk is the potential danger of a
loss in resources or receiving not enough income
against the variant when the resources are used
rationally in this type of entrepreneurial activity
[28, p.43].
The risk represents the danger of the failure,
unpredictable loss [12, p.10].
The risk is a threat, a danger for possible loss
[12, p.10].
The risk may be defined as the possibility of the
loss higher than expected [15].
GROUP II
The risk is the deviation from the goal, for the
realization of which certain decisions have been
taken [18].
The risk is the danger of unwanted deviations
from the expected future states, based on which
the current decisions are taken. The positive
deviations refer to lucky circumstances, the
negative ones to the danger of obtaining loss.
By the entrepreneurs risk we understand
risk of any activity type, related to production,
distribution of goods or service provision, their
sale, goods - money operations, and financial
operations, of the social-economic and technical
scientific projects [26].
By risk we understand the probability
(danger) for an enterprise to waste a great part of
its resources, the difference of the non-received
Autorul/ Author
Lapusta M. G.
Skamai L. G.
Giurgiu I.
Graceva M. V.
Kinev I. I.
Niculescu M.
Kovalev V. V.
Ceali-Prilukii
V. A.
Alighin A. P.,
Omarov A.
Standarde
Internaionale de
Raportare Financiar
Definiia
nencasate
sau
apariia
cheltuielilor
suplimentare ca rezultat al efecturii unei
anumite activiti de producere sau financiare
[19, p.55].
Prin risc al activitii de antreprenoriat, se
subnelege riscul care apare n orice tip de
activitate de ntreprinztor, legat de producere,
comercializarea mrfurilor sau prestarea
serviciilor, de realizarea lor, de operaiile marfbani i financiare; comer, precum i de
efectuarea proiectelor tehnico-tiinifice [25].
Riscul reprezint probabilitatea survenirii unui
eveniment nedorit [10].
Noiunea risc caracterizeaz posibilitatea
devierii de la scopul preconizat [20, p.202].
Prin risc, trebuie neleas consecina
aciunii sau inaciunii, n urma creia exist
posibilitatea real de obinere a rezultatelor
nedeterminate cu caracter divers, care
influeneaz att pozitiv, ct i negativ asupra
activitii economico-financiare a ntreprinderii
[23].
ntr-o accepiune sintetic, riscul inerent
oricrei activiti semnific variabilitatea
rezultatului sub presiunea mediului [11, p.313].
GRUPA a III-a
Riscul este nivelul pierderii financiare, care se
exprim prin: a) posibilitatea de a nu atinge
scopul pus; b) subiectivitatea evalurii
rezultatului pronosticat [24, p.515].
Riscul este aciunea (fapta, gestul), care este
realizat n condiiile alegerii (n situaia alegerii
n sperana unui final reuit), cnd, n caz de
insucces, exist posibilitatea (gradul de pericol)
de a nimeri ntr-o situaie mai rea dect pn la
alegere (dect n cazul nerealizrii acestei
aciuni) [30].
Riscul este activitatea legat de nvingerea
incertitudinii n situaia alegerii inevitabile, n
procesul creia exist posibilitatea de a evalua
cantitativ i calitativ probabilitatea obinerii
rezultatului presupus, a insuccesului i abaterii
de la scop [17, p.25; 27, p.5].
Riscurile i incertitudinile legate inevitabil de
multe evenimente i circumstane trebuie luate
n considerare n procesul de determinare a celei
mai bune estimri a unui provizion. Riscul
descrie varietatea rezultatelor obinute [36].
Definition
income or appearance of additional expenses as
a result of certain production or financial
activities [19, p.55].
The entrepreneurial activity risk is
understood as the risk in any type of
entrepreneurial activity, related to goods
production or distribution, or service provision,
their realization, goods-money and financial
operations; commerce, as well as technicalscientific projects [25].
The risk represents the probability of an
unwanted event [10].
The notion risk characterizes the possibility of
deviating from the planned objective [20, p.202].
By risk we understand the consequence of
the action or non-action, as a result of which
there is a real possibility to obtain undetermined
results of different character, influencing both
positively and negatively the economic-financial
activity of the enterprise [23].
In a synthetic sense, the risk immanent in
any activity means the variability of the result
under the environmental pressure [11, p.313].
GROUP III
The risk is the level of the financial loss
expressed in: a) the possibility of not reaching
the objective; b) the subjectivity in evaluating the
forecasted result [24, p.515].
The risk is the action (fact, gesture), realized in
conditions of selecting (the situation of selecting
hoping for a successful end), while in case of
failure, there is the possibility (level of danger)
of a situation worse than prior to the selection
(rather than in the case of not taking this action)
[30].
The risk is the activity related to overcoming the
uncertainty in case of inevitable selection, in the
process of which there is the possibility to
quantitatively and qualitatively evaluate the
probability of obtaining the expected result,
failure and deviation from the objective [17,
p.25; 27, p.5].
The risks and the uncertainties linked to many
events and circumstances should be taken into
consideration when determining the best
provision estimate. The risk describes the variety
of the obtained results. [36].
Sursa: Elaborat de autori/ Source: elaborated by the authors

Grupa I
Autorii din aceast grup (N. Siropolis, N. D.
Ilienkova, G. V. Cernova etc.) examineaz riscul doar
ca fiind o daun posibil: pierderi materiale sau alte
I Group
The authors in this group (N. Siropolis, N. D.
Ilienkova, G. V. Cernova etc.) examine the risk as a
possible damage only: material or other loss, likely to
73
pierderi, care pot avea loc n urma aciunii incorecte a

antreprenorului sau sunt o consecin a altor cauze, care
nu depind de el. Aceasta nu e tocmai just, deoarece,
dac ne vom concentra asupra obinerii unui rezultat
pozitiv ca urmare a situaiei de risc, vom vedea
existena unui profit evident pentru antreprenor (din
care motiv el a recurs la risc). Cu toate acestea,
considerm c expresia noi riscm cu scopul de a
obine profit este, totui, incorect. Se poate, oare,
risca n scopul reducerii pierderilor? Probabil c da, dar
acesta deja nu va fi un risc legat de obinerea profitului.
Lund n considerare cele menionate, se poate
concluziona c riscul nu este legat, ntotdeauna, de
obinerea profitului, adic antreprenorul, n anumite
condiii, poate s recurg la risc i, ca rezultat, s-i
micoreze pierderile sale.
Grupa a II-a
n opinia noastr (aceasta o sugereaz i ali
autori, precum T. Bocikai, D. Messen, N. L. Marenkov,
P. G. Grabovi, M. V. Graceva etc.), este mai corect a
examina riscurile ca o deviere probabil de la scopul
propus, n vederea realizrii cruia s-au luat anumite
hotrri i s-a recurs la risc drept nesiguran n
atingerea rezultatului scontat. Cu toate acestea, se
subliniaz faptul c abaterea ateptat poate lua forma
unui eec sau a unei posibiliti de obinere a unui profit
mai mare dect cel programat. O anumit expunere la
risc poate conduce la faliment, ntr-un context dat, sau
la prosperitate, n alte mprejurri.
Mai muli autori leag apariia consecinelor
negative ale riscului cu activitatea de ntreprinztor
propriu-zis (N. L. Marenkov, M. G. Lapusta, L. G.
Skamai etc.). Dei majoritatea unor asemenea decizii se
adopt contient, totui, nu pot s nu se aib n vedere i
urmrile negative, care nu depind direct de aciunile
antreprenorului. Unii autori (I. I. Kinev, M. Niculescu
etc.) consider c consecinele riscului pot s se
reliefeze nu numai n cazul cnd sunt precedate de o
oarecare aciune, ci i n cazul inaciunii conducerii.
Grupa a III-a
Autorii din aceast grup (A. P. Alighin etc.)
evideniaz inconvenientele abordrilor precedente,
menionnd necesitatea evalurii riscului ca o condiiecheie pentru recunoaterea incertitudinii de ctre risc.
De fapt, multitudinea acestor tratri i are
explicaia n nsi complexitatea riscului ca fenomen,
att din punct de vedere teoretic, ct i aplicativ. Este de
menionat faptul c majoritatea autorilor sunt unanimi
n aprecierea impactului riscului. Dup prerea noastr,
definiia riscului, care reflect mai deplin noiunea de
risc n activitatea de antreprenoriat, poate fi urmtoarea:
Riscul, n activitatea de antreprenoriat, ca
noiune, face trimitere la posibilitatea de a evalua
cantitativ i calitativ probabilitatea unor variaii ale
rezultatelor scontate fa de valorile sau nivelurile
estimate iniial, care pot avea loc n urma anumitor
aciuni sau inaciuni ale ntreprinderii i genereaz
diverse consecine cu caracter negativ.
74
happen as a result of the entrepreneurs wrong

activity, or as a result of other reasons, not dependent
on him. This is not totally correct, because if we
concentrate on obtaining positive result after risk, we
shall see the clear profit for the entrepreneur (the
reason that made him risk). Nevertheless, we think
that the expression risk for profit is not correct. Can
you risk for reducing loss? Maybe yes, but it will not
be related to obtaining profit. Taking into
consideration the said above, we can conclude that the
risk is not always linked to profit, which means that
the entrepreneur may risk and, as a result, lower his
loss.
II Group
In our opinion, (suggested by other authors,
too T. Bocikai, D. Messen, N. L. Marenkov, P. G.
Grabovi, M. V. Graceva etc.), it is more correctly to
examine the risks as probable deviation from the
initial objective, for the accomplishment of which
certain risk decisions have been taken as unsafety in
obtaining the expected result. However, the expected
deviation may result into failure or the possibility of
obtaining higher profit rather than the planned one. A
certain exposure to risk is likely to lead to
bankruptcy, in a given context, or to prosperity, in
other circumstances.
Many authors link the appearance of the risk
negative consequences to the entrepreneurial activity
itself (N. L. Marenkov, M. G. Lapusta, L. G. Skamai
etc.). Though most of these decisions are knowingly
taken, the negative consequences not dependent on
the entrepreneurs activity cannot be taken into
consideration. Some authors (I. I. Kinev, M.
Niculescu etc.) consider that the risk consequences
may appear not only when they are preceded by a
certain action, but in case of the administrations
inaction as well.
III Group
The authors in this group (A. P. Alighin etc.)
emphasize the drawbacks of the previous group,
mentioning the need of risk evaluation as a key
condition for the risk to recognize uncertainty.
Actually, the multitude of these definitions is
rooted in the complexity of the risk as a phenomenon,
both theoretically, and practically. We should mention
the fact that most of the authors have a unanimous
opinion when evaluating the risk impact. In our
opinion, the definition of the term risk, which reflects
more fully this term in entrepreneurial activity, is as
follows:
The risk in entrepreneurial activity, as a
term, refers to the possibility to evaluate
quantitatively and qualitatively the probability of
some variations of the expected results against the
initially estimated values or levels, likely to happen
as a result of the enterprise actions or inactions, and
generate different consequences of negative
character.
Concluzionnd cele expuse anterior, putem

afirma c, n fenomenul riscului, se evideniaz
urmtoarele
elemente,
interconexiunea
crora
determin coninutul riscului:
posibilitatea abaterii de la scopul
preconizat, pentru care se realizeaz
alternativa aleas;
probabilitatea
obinerii
rezultatului
scontat;
lipsa certitudinii n atingerea rezultatului
scontat;
posibilitatea apariiei urmrilor negative
n timpul realizrii anumitor aciuni n
condiii de incertitudine pentru subiectul ce
recurge la risc;
pierderile materiale sau de alt gen legate
de realizarea alternativei alese n condiii
de incertitudine;
ateptarea pericolului, insuccesului ca
rezultat al realizrii alternativei alese.
Considerm c aceste elemente caracterizeaz
suficient de exact esena riscului.
2. Modaliti de evaluare a caracterului
obiectiv i subiectiv al riscului
Exist nu numai diferite aprecieri ale
coninutului noiunii de risc, ci i diferite modaliti de
evaluare a caracterului obiectiv i subiectiv al
acestuia.
Unii autori [31, p.63] susin c riscul este o
categorie obiectiv, care permite reglarea relaiilor
dintre persoane fizice, colective de munc, organizaii i
ali subieci ai vieii sociale. Cu toate acestea, riscul este
privit ca posibilitatea apariiei unui pericol care ar avea
efecte negative. De exemplu, din punct de vedere
obiectiv, A. A. Sobciak caracterizeaz riscul ca fiind
pericolul apariiei urmrilor nefavorabile, a cror
producere este incert [31, p.63]. Prin urmare, riscul
obiectiv este inerent oricrei aciuni caracterizate prin
variaia rezultatelor probabile i reprezint o variabil
independent de individ.
n literatura de specialitate, este elucidat pe larg
i conceptul subiectiv al riscului. Un aport considerabil
n dezvoltarea acestui concept i revine lui V. A.
Oighenzihit, care susine c riscul este ntotdeauna
subiectiv, deoarece reprezint o evaluare de ctre om a
faptelor, aciunilor, o alegere contient cu evidenierea
posibilelor alternative [33, p.7].
Conceptul subiectiv este orientat spre subiectul
aciunii, innd cont de posibilele urmri, de alegerea
variantelor de aciune, ceea ce condiioneaz aplicarea
anumitor obligaiuni sau scutirea de ele. Conform
acestui concept, determinarea riscului, ntotdeauna, este
legat de dorina i contiina omului. Deci, riscul este
alegerea variantei de aciune, cu evidenierea
pericolelor, ameninrilor posibilelor consecine.
Aadar, aprecierea subiectiv a riscului poart amprenta
personalitii individuale, reflect mentalitatea,
By concluding the above said, we can say that

the risk phenomenon emphasizes the following
elements, the interconnection of which determines the
risk content:
The possibility to deviate from the expected
objective, for which the chosen alternative
is realized;
The possibility to obtain the expected result;
Lack of uncertainty in attaining the expected
result;
The possibility of negative consequences
during the actions in uncertain conditions
for the subject adhering to risk;
The material or other loss related to the
chosen alternative in conditions of
uncertainty;
Expectancy of danger, failure as a result of
the selected alternative.
We believe that these elements characterize
exactly enough the essence of the risk.
2. Different evaluation modalities of risks
objective and subjective character
There are not only different definitions of the
content of the term risk, but also different evaluation
modalities of its objective and subjective character.
Some authors [31, p.63] say that the risk is an
objective category, which allows regulating the
human, labour collective relations, organizations and
other subjects of the social life. Nonetheless, the risk
is taken as the possibility of the danger with negative
effect to appear. For example, from the objective
point of view, A. A. Sobciak characterizes the risk as
the danger for unfavourable consequences, the
production of which is uncertain [31, p.63].
Therefore, the objective risk is inevitable to each
action characterized by the variation of the probable
results and represents a variable independent from the
individual.
The specialized literature also describes the
subjective concept of the risk. Great contribution has
been brought to the development of this concept by V.
A. Oighenzihit, who says that the risk is always
subjective, because it is a human evaluation of the
facts, actions, and a conscious selection by
emphasizing possible alternatives [33, p.7].
The subjective concept is oriented towards the
subject of the action, taking into consideration the
possible consequences, the selection of the action
variants, which conditions the application of certain
obligations or exemption from them. According to
this concept, determining the risk is always linked to
the human willingness and conscience. So, the risk is
selecting an action variant, by emphasizing the
dangers, threats of the possible consequences. So,
the subjective appreciation of the risk bears the
footprint of the individual personality, reflects the
mentality, habits and measure to which it is grounded
on intuition or, vice versa, on false observations. The
75
obiceiurile i msura n care aceasta se fundamenteaz

pe intuiie sau, dimpotriv, pe observaii false. Riscul
subiectiv constituie o estimare a riscului obiectiv i
depinde de individ, de informaia lui, de temperamentul
su [13, p.21].
Astfel, conform argumentelor anterioare, exist
trei concepte care ader la natura obiectiv sau
subiectiv a riscului, ori subiectiv-obiectiv. Dup
prerea noastr, cea mai corect abordare este cea
subiectiv-obiectiv, deoarece principalul argument este
recunoaterea faptului c, n procesul de activitate,
persoanele fizice, colectivele de munc etc. se
ncadreaz subiectiv n diferite relaii. Deci, nsei
activitile desfurate sunt caracterizate att sub
aspect subiectiv, ct i sub aspect obiectiv.
Deoarece riscul constituie o activitate specific
desfurat n condiii de incertitudine i alegere
obligatorie, el, concomitent, este i o unitate dialectic
a laturii subiective i obiective. Deci, riscul este legat
ntotdeauna de alegerea anumitor alternative i
calcularea probabilitii desfurrii lor, acest fapt
reprezentnd latura lui subiectiv. Totui, mrimea
riscului nu este doar subiectiv, ci i obiectiv,
deoarece ea reprezint o form calitativ-cantitativ
exprimat prin
incertitudine real existent.
Obiectivitatea riscului este determinat de faptul c
esena lui reflect fenomenele, procesele i laturile
existente ale activitii. Este foarte important faptul c
riscul exist, indiferent de faptul dac se
contientizeaz prezena sau lipsa lui, se ine cont de
el sau se neglijeaz.
ntr-o msur anumit, riscul este o art, el fiind
determinat de necesitatea de a decide contradicia dintre
aciunile, procesele, metodele repetate i permanente i
cutarea noilor, nc neaprobate, forme i metode de
organizare i gestiune.
3. Coninutul riscului de antreprenoriat
Pentru a nelege coninutul riscului de
antreprenor, este necesar s se defineasc asemenea
noiuni, precum situaia de risc i nivelul riscului,
deoarece ele, incontestabil, au legtur direct cu
noiunea risc.
n majoritatea cazurilor, termenul situaie se
definete ca o combinare, totalitate a diferitelor
mprejurri i condiii care creeaz un anumit mediu de
gestiune al ntreprinderii sau un oarecare alt tip de
activitate. Nu ntmpltor, exist i alte aprecieri ale
riscului: o caracteristic situativ a activitii, care este
compus din incertitudinea de a obine un rezultat i
posibilitatea apariiei urmrilor nefavorabile n caz de
insucces [31, p.65]; riscul reprezint unitatea
mprejurrilor i criteriilor individuale i/sau de grup de
evaluare a situaiilor, n baza crora sunt luate decizii
operaionale [31, p.65]. Situaia poate favoriza
realizarea anumitor activiti de gestiune. Pornind de la
faptul c situaia se caracterizeaz prin prezena i
derularea anumitor condiii, n care se constat influena
unui fenomen determinat i se evideniaz cauzele
76
subjective risk is an estimate of the objective risk and

depends on the individual, his information and temper
[13, p.21].
Thus, according to former arguments, there are
three concepts related to the objective or subjective
nature of the risk, or subjective-objective. In our
opinion, the most righteous approach is the
subjective-objective one, as the main argument is
recognition of the fact that in their activity, the
physical persons, work groups etc. are subjectively
involved in different relations. Therefore, the
activities themselves are characterized both
subjectively and objectively.
As the risk is a specific activity taking place in
conditions of uncertainty and mandatory selection, it
is, at the same time, a dialectic unity of the subjective
and objective side. So, the risk is always linked to the
selection of certain alternatives and calculation of
their happening probability, this fact representing its
subjective side. Anyway, the size of the risk is not
subjective only; it is objective too, as it represents a
qualitative-quantitative form expressed through really
existing uncertainty. The risk objectiveness is
determined by the fact that its essence reflects
phenomena, processes and existing sides of the
activity. It is very important that the risk exists,
irrespective whether its existence is acknowledged or
not, whether they take it into consideration or not.
To a certain extent, the risk is an art, being
determined by the need to decide over the
contradiction between the repeated and ongoing
actions, processes and methods and the search of new,
still unapproved forms and methods of organization
and management.
3. The content of the risk for the
entrepreneur
In order to understand the content of the risk for
the entrepreneur, it is necessary to define such notions
as situation of risk and level of risk, as, they,
undeniably, are directly related to the term risk.
In most of the cases, the term situation is
defined as a combination, set of different
circumstances and conditions which create a certain
management environment of the enterprise or any
other type of activity. Not by accident, there are other
definitions of the term as well: a situational
characteristics of the activity, composed of
uncertainty in obtaining a result and the possibility of
unfavourable consequences in case of failure [31,
p.65]; the risk is the unity of the conditions and
individual and/or group criteria in evaluating the
situations based on which operational decisions are
taken [31, p.65]. The situation may favour the
realization of certain management activities. Starting
from the fact that the situation is characterized by the
presence and ongoing of certain conditions, in which
the influence of a determined phenomenon can be
observed, and the reasons of its appearance are
apariiei lui, devine clar c, din punct de vedere logic,

noiunea situaie este mai larg, dect oricare alt
fenomen separat. Exist o multitudine de situaii cu care
se ntlnesc subiecii de gestiune, dar un loc aparte l
ocup situaiile de risc. Pentru desfurarea activitii de
gestiune, sunt specifice elemente de incertitudine, ce
condiioneaz apariia situaiilor, care nu au un rezultat
identic.
Dac exist tentativa de a determina, cantitativ i
calitativ, nivelul posibilitii unei sau altei variante,
aceasta va reprezenta o situaie de risc. De aici, rezult
c situaia de risc este legat de procesele statistice i i
corespund trei condiii interconexate: existena
incertitudinii, necesitatea de a alege o alternativ,
posibilitatea de a evalua, cantitativ i calitativ,
probabilitatea realizrii uneia sau altei variante.
Situaia de risc suport cteva aspecte:
1. Subiectul, care face alegerea din cteva
alternative posibile, are la dispoziie
probabiliti obiective de obinere a
rezultatului scontat n baza cercetrilor
statistice efectuate.
2. Probabilitatea obinerii rezultatului ateptat
poate fi constatat doar n baza evalurilor
subiective, adic subiectul opereaz cu
probabiliti subiective.
3. Subiectul, n procesul alegerii i realizrii
alternativei, are la dispoziie att
probabiliti obiective, ct i subiective.
Astfel, situaia de risc reprezint o diversificare
a incertitudinii, cnd realizarea unor evenimente este
posibil i poate fi determinat, adic, n acest caz
obiectiv, exist posibilitatea de a determina
probabilitatea evenimentelor, aprute n urma activitii
comune a partenerilor de producie, aciunilor
concurenilor, influenei mediului asupra dezvoltrii
economiei, implementrii rezultatelor tehnico-tiinifice
n economia naional etc.
n ceea ce privete noiunea nivelul riscului,
putem afirma c msura de eviden calitativ i
cantitativ a certitudinii i gsete reflectare, anume, n
aceast noiune.
4. Esena riscului n activitatea de
antreprenoriat
Pentru a nelege mai bine esena riscului n
activitatea de antreprenoriat, o importan primordial o
prezint relaia risc-profit. Adam Smith meniona c
obinerea celui mai mic profit este legat de risc
[16, p.79].
Antreprenorul este pregtit s recurg la risc n
condiii de incertitudine, deoarece, pe lng riscul de a
suporta pierderi, exist posibilitatea de a obine venituri
suplimentare. Dei este cert faptul c obinerea
profitului nu este garantat, recompensa pentru timpul
pierdut, efortul i aptitudinile depuse se poate realiza
att sub form de profit, ct i sub form de pierdere.
Schimbarea mrimii profitului n funcie de
nivelul riscului poate fi ilustrat astfel:
stressed out, it becomes clear that from the logical

point of view the term situation is broader than any
other separate phenomenon. There are many
situations the management subjects meet, but a
special place is taken by the risk situations. The
management activity is characterized by elements of
uncertainty which make the situations appear which
do not have an identical result.
If there is the tentative to quantitatively and
qualitatively determine the level of the possibility of
one or another variant, it will represent a situation of
risk. In such a way, the situation of risk is related to the
statistic processes and to three interconnected
conditions: existence of uncertainty, the need to select
an alternative, the possibility to quantitatively and
qualitatively evaluate the probability of one variant or
another.
The situation of risk has several aspects:
1. The subject, who makes the choice between
several possible alternatives, has at his
disposal objective possibilities in obtaining
the expected result based on the statistic
research.
2. The possibility to obtain the expected result
may come only with the subjective
evaluations, meaning that the subject
operates with subjective possibilities.
3. In the process of selecting and realizing the
alternative, the subject has at his disposal
both objective and subjective possibilities.
Thus, the situation of risk is a diversity of
uncertainty, when the realization of certain events is
possible and may be determined, meaning that in this
objective case there is the possibility to determine the
probability of events, which appeared as a result of
the common activity of the production partners, of the
competitors actions, of the environmental influence
on the development of the economy, implementation
of the technical-scientific results in the national
economy, etc.
Speaking about the term the level of risk,
we can say that the measure of qualitative and
quantitative record of certainty is reflected in this
term.
4. The essence of the risk in entrepreneurial
activity
To better understand the essence of the risk, in
entrepreneurial activity, a primary importance is given
to the risk-profit relation. Adam Smith said that
obtaining the lowest profit is linked to risk [16, p.79].
The entrepreneur is ready to take the risk in
conditions of uncertainty, because, besides the risk of
suffering losses, there is the possibility of gaining
additional income. Though it is obvious that the profit
is not insured, the reward for the time, effort and
skills spent may be realized both as profit and loss.
The change of the profit amount depending on
the level of the risk may be shown in such a way:
77
Profit/Profit
P3
P2
P1
0
R2
R3
Risc/Risk
Figura 1.1. Schimbarea mrimii profitului n funcie de nivelul riscului /

Figure 1.1. Change of the Profit Amount depending on the Risk Level
Sursa / Source: .. . , ,
. 3- .//.:- , 2005. p.7
Este posibil alegerea deciziei care presupune
un risc minim (R1 = 0), ns, n cazul unui asemenea
nivel al riscului, nivelul profitului obinut (P1) va fi
mai redus, iar, n cazul unui nivel nalt de risc R3,
profitul poate cpta o valoare cu mult mai mare, fiind
egal cu P3. Astfel, pentru obinerea profitului,
antreprenorul trebuie s accepte contient riscul ca o
parte integrant a vieii economice.
Trebuie remarcat faptul c antreprenorul este n
drept s delege parial riscul altor ageni economici, dar
s-l evite complet nu poate, fapt ce denot ct de just
este expresia: Cine nu risc, nu ctig. Cu alte
cuvinte, pentru a obine profit, antreprenorul trebuie s-i
asume contient riscurile aferente deciziei luate.
Este necesar de menionat c, pn n prezent,
interesul fa de examinarea conceptului teoretic al
riscului nu scade.
5. Concluzii
Studiul diverselor abordri ale noiunii risc se
caracterizeaz printr-o varietate destul de mare a
definiiilor cu caracter teoretic i aplicativ. Fr o
nelegere justificat a esenei riscului, este imposibil
formularea unor recomandri de analiz i eviden a
acestuia n activitatea de antreprenoriat. Astfel,
investigaiile efectuate au dat posibilitate autorilor s
formuleze i s argumenteze urmtoarea definiie,
elaborat de autori: Riscul n activitatea de
antreprenoriat, ca noiune, face trimitere la posibilitatea
de a evalua, cantitativ i calitativ, probabilitatea unor
variaii ale rezultatelor scontate fa de valorile sau
nivelurile estimate iniial, care pot avea loc n urma
anumitor aciuni sau inaciuni ale ntreprinderii i
genereaz diverse consecine cu caracter negativ.
Totodat, n literatura de specialitate, exist
diferite modaliti de evaluare a caracterului obiectiv
i subiectiv al riscului. Suntem de prere c cea mai
corect abordare este cea subiectiv-obiectiv, ntruct
principalul argument l constituie recunoaterea
faptului c, n procesul activitii persoanele fizice,
78
It is possible to take the decision of minimum

risk (R1 = 0), but, in the case of such a risk level, the
level of the obtained profit (P1) will be reduced, and in
the case of a higher risk level R3, the profit may acquire
a much higher value, equaling with P3. Thus, to gain
profit, the entrepreneur is to consciously accept the risk
as integral part of the economic life.
It should be noted the fact that the
entrepreneur has the right to partially delegate the risk
to other economic agents, but he cannot avoid it
completely. The expression: That who doesnt risk,
doesnt gain is right. With other words, to gain profit,
the entrepreneur is to consciously take the risk related
to the decision taken.
So far, the interest for the examination of the
theoretical concept of the risk is not lowering.
5. Conclusions
The study of different approaches of the term
risk is characterized by a rather big variety of
definitions of theoretical and practical character.
Without a justified understanding of the essence of the
risk, it is impossible to formulate certain
recommendations of its analysis and record in the
entrepreneurial activity. Thus, the investigations gave
possibility to the authors to formulate and argument the
following definition, elaborated by the authors: the risk
in entrepreneurial activity, as a term, refers to the
possibility to quantitatively and qualitatively evaluate
the probability of variations of the expected results
against the initially estimated values or levels, which
may happen as a result of certain actions or inactions
of the entreprise and generate different consequences
of negative character.
At the same time, the specialized literature
describes different ways of evaluating the objective and
subjective character of the risk. We think that the most
righteous approach is the subjective-objective one, as
the main argument is to admit the fact that in the
colectivele de munc se ncadreaz subiectiv n

diferite relaii. Deci, nsei activitile desfurate sunt
caracterizate att printr-o latur subiectiv, ct i
obiectiv.
activity process the physical person, the work groups,

etc. subjectively get involved in different relations. So,
the activities themselves are characterized both by
subjective and objective sides.
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http://lex.justice.md/viewdoc.php?id=311735&lang=1.
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01.01.2008.
7. Legea privind societile cu rspundere limitat nr. 135 din 14.06.2007.
http://lex.justice.md/index.php?action=view&view=doc&id=324892.
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10. GIURGIU, I. (1995), Mecanismul financiar al ntreprinztorului, Editura Dacia, Cluj-Napoca, pp.386;
11. NICULESCU, M. (1997), Diagnostic global strategic, Editura Economic, Bucureti, pp.255;
12. NICOAR, A. (2000), Observator economic, Economica nr.1-2, pp. 8-15;
13. MUNTEAN, N., BALANU, V., (2010). Analiza i evaluarea riscurilor la nivel de ntreprindere: Aspecte teoretice i
aplicative. Chiinu: ASEM.
14. PRUNEA, P. (2003), Riscul n activitatea economic, Bucureti, Editura Economic, pp.20- 12;
15. STANCU, I. (2002), Finane, Bucureti, Editura Economic, pp.1056;
16. HEDGETTS, Mehr (1994), Risk Management. Concepts and Apications, McGraw Hill, New York, pp.432;
17. SMITH, A. (1994), The Wealth of Nations, Random House, The modern Librarz, New York, pp.572;
18. , .. (1989), , .: , pp.189;
19. , ., , . (1979), , .: , pp.184;
20. , .., , .., , .., , .., , .., ,
.. (1994), , .: , c.200;
21. , .. (1999), , .: , c.216;
22.
, .. (2001), , .: -, c.288;
23. , . . (1979), , , .: , c.352;
24. , .. (1999), -
, , .: ;
25. , .. (2006), : , .: , - , c.016;
26. , .., , .. (1996), , .: -, c.224;
27. , .. (2002), : :
, . .. ., .: ;
28. , . (1990), , . , .,
12, c.23 34;
29. , .. (2000), , .: -89, pp. 190;
30. , , . (1997), . : . .,
.: , c.234;
31. -, .. (1994), . ,
( ), .: , , c.134;
32. , . . (2002), , 2- , .: -, .:
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79
INTEGRAREA EUROPEAN I POLITICI SOCIALE / EUROPEAN INTEGRATION AND SOCIAL POLICIES
ATITUDINEA TRSTUR
CARACTERIAL IMPORTANT
N OBINEREA
PERFORMANELOR
Dr., Iulian MUNTEAN, UASM,
Lect. univ., Diana CIOBANU, ASEM,
Natalia VHOCENCO, prof. de arte plastice,
gr. did. I, .A.P. A. ciusev
n articolul de fa, este analizat problema
atitudinii pozitive a unei persoane fa de munc, mediu i
societate. Aceasta prezint o mare importan asupra
modului n care ea se realizeaz n mod efectiv i
constituie un determinant al performanelor individuale i
al rezultatelor ntregii societi. Fericirea este un stil de a
tri. Fericirea se nva.
Cuvinte-cheie: fericire, atitudini i valori, gndire
pozitiv, autodezvoltare, mediu, efort, sociologie.
JEL: Z1
Introducere. Atitudinea reprezint o tendin pro
sau contra unor fenomene, obiecte, persoane, care apare n
procesul referirii la valori i ne determin comportamentul.
Atitudinea constituie o form latent, ascuns, care se
manifest n opinii, sentimente i comportamente. Ele sunt
relativ stabile, i pstreaz coloritul pozitiv sau negativ.
[6]
n structura atitudinilor, evideniem componenta
cognitiv (opiniile), afectiv i comportamental.
Atitudinile sunt n strns legtur cu valorile, necesitile,
interesele, idealurile i sentimentele personale.
Sistemul de atitudini i valori, prezente la nivel
individual, se pot modifica n timp i difer, ntr-o msur
mai mare sau mai mic, de la un individ la altul.
Att gndirea pozitiv, ct i cea negativ fac parte
din strile psihologice normale ale persoanei. n funcie de
stare, nclinm s privim lucrurile n bine sau n ru, dar
trebuie s fim contieni de efectul acestor perspective. O
gndire negativ va atrage evenimente neplcute i va
aduce, n viaa noastr, suferin, tristee i diverse
probleme, n timp ce, o gndire pozitiv va atrage
ntmplri pozitive i ne va oferi eficien, satisfacie,
succes i sentimentul de mplinire.
Perspectiva asupra vieii i atitudinea, n general,
sunt contagioase pentru cei din jur. Fr s ne dm seama,
fiecare dintre noi afecteaz persoanele pe care le ntlnete
i invers, prin transfer de gnduri i sentimente i prin
limbaj corporal. Cu toii preferm s fim n preajma
oamenilor optimiti, cu atitudine pozitiv i, de multe ori, i
evitm pe cei negativiti. [5]
Material i metod. Gndirea pozitiv ne ajut s
descoperim c nu avem limite n puterea de a rezolva orice
problem, a ndeplini orice obiectiv propus i a ne furi
propriul viitor. Secretul const n ncrederea n forele
proprii indiferent de situaie.
80
ATTITUDE - IMPORTANT
CHARACTER TRAITS IN
OBTAINING PERFORMANCE
PhD Iulian MUNTEAN., SAUM
Lecturer Diana CIOBANU, ASEM
Teacher of arts Natalia VIHOCENCO,
A. Sciusev School of Arts
The article provides an analysis of the problem
of positive attitude towards work, environment and
society. These components play an important role in
the way of attitude manifestation and are crucial for
performance of individuals and entire society.
Happiness is a lifestyle. Happiness can be learned.
Key words: happiness, attitudes and values,
positive thinking, self-development, medium, effort,
sociology.
JEL: Z1
Introduction. Attitude is a tendency towards or
against some phenomena, objects or persons that
determines our behaviour. Attitude has a latent, hidden
form that manifests itself in opinions, feelings and
behaviours. They are relatively stable maintaining
positive or negative shades [6].
In the structure of attitude we can define the
cognitive component (opinions), the affective
component and the behavioural component. Attitudes
have strong liaison with values, needs, interests, ideals
and personal feelings.
The system of attitudes and values of each
individual is different and could be modified in time.
Both positive and negative thinking are parts of
normal psychological state of each person. Depending
on our condition we strive to see the things from their
good or bad side, but we should be conscious about
resulting effects. A negative thinking would attract
unpleasant happenings and would bring pain, sadness,
and other problems into our life, while a positive
thinking would bring positive events and would offer
us efficiency, satisfaction, success and the feeling of
accomplishment.
The outlook on life and attitude in general, is
contagious to others. Without realizing it, each of us
influences people that meets and vice-versa, by
exchanging thoughts and sentiments and through the
body language. We all prefer to be surrounded by
optimistic people, with a positive attitude and we are
often trying to avoid the negativist ones [5].
Research material and method. Positive
thinking helps us to understand that there are no limits
in our power of solving any problem, achieving any
objective and building our future. The secret is our
self-confidence in each situation.
Positive attitude could be developed in
Revista / Journal ECONOMICA nr.3 (93) 2015
Atitudinea pozitiv poate fi cultivat de oricine

dorete lucrul acesta. Gndirea pozitiv presupune o
anumit
structur
cognitiv,
emoional
i
comportamental n faa lumii, un anumit mod de a se
vedea pe sine i pe ceilali, de a nelege, simi i aciona n
relaiile cu ceilali, cu situaia cu care te confruni. [1]
Persoanele care au o gndire pozitiv se descurc
mai bine n situaiile dificile, au o mai mare capacitate de
efort fizic i intelectual, rezist mai bine la situaii stresante
i, n general, sunt mai capabile s obin rezultate
superioare dect alii cu aptitudini asemntoare. [7]
Danemarca, Norvegia, Finlanda i Olanda sunt
cele mai fericite ri din lume, spune raportul ntocmit de
The Earth Institute (2012) i primul de acest gen din lume.
Dac evaluarea vieii n rile nordice a avut o medie de
7.6 din 10, n cele mai puin fericite ri analizate Togo,
Benin, Republica Central African i Sierra Leone nota
final nu a depit 3,4. Studiul ia n calcul mai muli
coeficieni, de la impactul banilor asupra bunstrii, pn
la diferenele de vrst n aprecierea propriului confort
interior.
Am fcut mai jos un rezumat al criteriilor luate n
considerare n acest raport, de la ctiguri, la religie.
Veniturile
Printre sociologi este cunoscut aa-numitul
paradox Easterlin, potrivit cruia, n medie, un venit mai
ridicat atrage dup sine fericirea indivizilor, ns, la nivelul
unei ri sau comuniti numeroase, nu se aplic acelai
principiu i venitul global mai ridicat nu duce la un
coeficient de fericire global mai mare. Acest lucru se
explic prin faptul c oamenii au tendina s se compare cu
ali oameni tocmai de aceea, cei bogai se vor compara
tot timpul cu cei sraci, astfel nct prima ipotez va
rmne constant.
Munca
omajul este unul dintre factorii principali care
afecteaz major bunstarea: lipsa unui loc de munc i face
pe oameni s se simt inutili. E important de subliniat c,
declarat, nu att lipsa veniturilor i afecteaz pe omeri, ct
pierderea statutului social i scderea stimei de sine
aferente.
Conteaz, de asemenea, calitatea muncii, iar faptul
c cei mai muli oameni s-au declarat cel mai puin fericii
n prezena efilor direci arat c sistemele actuale de
munc se bazeaz prea puin pe importana relaiilor
interumane, miznd mai degrab pe mecanismele puterii.
Capitalul social
Socializarea joac un rol esenial n percepia
asupra fericirii, aceasta din urm fiind alimentat i de
ntlnirile frecvente cu prietenii i rudele, de participarea la
evenimente sociale i culturale, de practicarea sporturilor i
implicarea n munc de voluntariat sau alte activiti prosociale. Nivelul de ncredere dintr-o comunitate contribuie
substanial la bunstarea declarat a membrilor si.
Libertatea de care se bucur cetenii este, la rndul ei,
luat n calcul n acest barometru al fericirii.
Valori i religie
n acest moment, 68% dintre aduli susin c religia
everybody. Positive thinking assumes a particular

cognitive, emotional and behavioural structure in
peoples eyes, a specific way to see themselves and
others, to understand, feel and action in relation with
others and the situation they are facing [1].
People with positive thinking cope better with
difficult situations, have bigger physical and
intellectual capacity, resist easier in stressful situations
and, in general, are more capable to deliver great
results than their peers with similar aptitudes [7].
According to The Earth Institute Survey (2012),
Denmark, Norway and Holland are the happiest
countries in the world. Life evaluation in north
countries registered an average of 7.6 out of 10 while
the least happy countries Togo, Benin, Central
African Republic and Sierra Leone registered only
3.4. The survey takes into consideration several
coefficients, from the impact of money on well-being
to the differences of ages in evaluating interior selfcomfort.
A resume of the criteria taken into
consideration in this survey, from earnings to religion,
is following.
Income
The Easterlin paradox is well known by
sociologists, according to which a higher income
normally increases the individual happiness, but at the
level of a whole country or a relatively numerous
community, a higher income does not generate a higher
coefficient of global happiness. This could be
explained by the fact that people tend to compare with
others that is why rich people will permanently
compare to poor and the first assumption remains
constant.
Work
Unemployment is one of main factors affecting
welfare: the lack of work makes people to feel useless.
It is important to highlight that unemployed people are
more affected by the loss of social status and decrease
of self-respect rather than by lack of income.
The quality of work matters as well and the fact
that many people feel less happy in the presence of line
managers says that actual systems of work are mainly
based on mechanism of power rather than on the
importance of interpersonal relations.
Social capital
Socialization plays an important role in
perception of happiness, being fueled by frequent
meetings with friends and relatives, by participation in
social and cultural events, by doing sport and volunteer
work, or other socially oriented activities. The level of
trust in a community is substantially contributing to the
declared welfare of its members. The freedom enjoyed
by citizens is taken into consideration by this survey of
happiness.
Values and religion
At present, 68% of adult people say that
religion plays an important role in their day to day life,
81
joac un rol important n vieile lor de zi cu zi, ns

impactul ei asupra gradului de fericire nu este nc pe
deplin lmurit. Una dintre piste ar putea fi dedus din
statisticile Gallup World Poll, care arat c practicile i
credinele religioase sunt mai rspndite n rile unde
nivelul de trai este mai sczut venituri mai mici, durata
de via, educaia i sigurana personal.
Sntatea fizic
Pe lng efectul previzibil al problemelor de
sntate asupra bunstrii, n acest caz, relaia este
ambivalent, fericirea afectnd sensibil starea de sntate.
Familia
World Happiness Report arat cum csnicia este,
universal, unul dintre factorii care sunt direct corelai cu
satisfacia unei viei mplinite. Estimrile arat c cei
cstorii se declar mai fericii dect cei singuri.
Educaia
Dei o relaie direct ntre educaie i fericire nu a
fost stabilit, o educaie mai lung i mai temeinic ridic
ansele de angajare i sigurana profesional, afectnd, n
mod direct, ali factori eseniali pentru evaluarea
bunstrii.
Genul
n rile cele mai avansate, femeile se declar mai
mulumite i mai fericite dect brbaii, ns acest lucru
este valabil strict n condiii socio-economice bune. n
rile mai srace, lucrurile stau exact invers, brbaii
declarndu-se mai fericii dect femeile. O alt tendin
observat de realizatorii studiului a fost faptul c, att n
SUA, ct i n Europa, scade ncet gradul de fericire
declarat al femeilor, n raport cu brbaii.
Vrsta
Dei am fi tentai s credem c fericirea este strict
asociat cu tinereea, graficele arat c, n general, exist o
relaie ntre vrst i bunstare, care arat c nivelul minim
de fericire este asociat cu vrsta de mijloc (40-50 de ani),
dup acest prag, nregistrndu-se o alt cretere [2].
Pentru a deveni o persoan pozitiv, nu este
suficient s ne informm n legtur cu acest subiect, avem
nevoie de hotrre i consecven. Dei aceste schimbri
au loc la nivel subcontient, este posibil s realizm
procesul la nivel contient. Chiar dac pare ciudat, nu
avem nimic de pierdut dac ncercm. Pentru realizarea
acestui lucru ne vor ajuta urmtorii pai.
ncepem ziua cu zmbetul pe buze
Trebuie s facem ceea ce ne place imediat dup ce
ne trezim. Daca ateptm s facem ceva cu nerbdare
imediat ce ne trezim, vom ncepe ziua cu zmbetul pe
buze. i nu ne oprim aici: ncheiem ziua n acelai ton,
fcnd ceva ce ne place.
Eliminarea negativismului
Primul pas reprezint cunoaterea de sine. Cnd
avem gnduri negative, trebuie s ncercm s ajungem la
originea lor. De ce ne trec prin minte, de unde vin i cum
le putem anihila? Emoiile negative au rdcini adnci, pe
care, uneori, e destul de greu s le contientizm.
Gndirea pozitiv
Este atunci cnd recunoatem c totul bun sau
82
but its impact on the level of happiness is not

completely explained yet. One of the directions could
be deducted from the Gallup World Poll statistics,
showing that religious practices and beliefs are more
spread in countries with lower level of living lower
incomes, lifetime, education, personal safety.
Physical Health
Along with the evident effect of health
problems on wealth, happiness affects health with an
ambivalent relation.
Family
World Happiness Report says that marriage,
usually, is one of the factors directly related to the
satisfaction with life. According to surveys, those
married declare themselves being happier than those
single.
Education
Although there is not found a direct relation
between education and happiness, a longer and more
profound education increases the chances to be hired
and professional safety, influencing directly other
factors of welfare evaluation.
Gender
In most advanced countries, women declare
themselves more satisfied and happier than men subject
to good socio-economic conditions. In poorer countries
the situation is vice-versa, men declaring themselves
happier than women. Another tendency, identified by
researchers, is gradual decrease of the level of women
happiness comparing to men in USA and Europe.
Age
Although we tend to think that happiness has
strict association with youth, graphs show that in
general, there is a relation between age and welfare
which is at the minimal point of happiness at medium
age (age of 40-50), registering an increase after this
stage [2].
In order to become a positive person it is not
sufficient to inform ourselves on this subject,
determination and consequence are needed. Although
these changes are happening at subconscious level it is
possible to understand the process consciously. Even it
seems strange we have nothing to lose by trying.
Following steps will help us.
Start the day with a smile.
We should do what we like more immediately
after waking up. If we wait doing something after
waking up we would start the day with a smile. And we
should not stop here: we have to end the day on the
same tone, by doing something we like.
Exclusion of negativism
The first step is self-knowledge. When we have
negative thoughts we should try to identify their origin.
Why they appear in our mind, where are they coming
from and how can we cope with them? Negative
emotions have deep roots very difficult to identify.
Positive thinking
It happens when we realize that everything
ru, ne este de folos i de ajutor. S fim ateni la ce se

ntmpl n propria via. Nu trebuie s le lum prea n
serios i s lsm viaa s curg.
Afirmaiile pozitive
Afirmaiile sunt declaraii pozitive ale unui rezultat
sau obiectiv dorit. Expresiile sunt n general scurte,
credibile i concentrate. Repetarea lor, de multe ori,
deschide n timp noi ci n subcontientul nostru, crend
un alt mod de gndire. n cazul nostru, urmrim evident
gndirea pozitiv. Afirmaiile scurte i pozitive ne vor da
ncrederea de care avem nevoie. Dac repetm de cteva
ori pe zi: Da, pot face asta!, ne vom simi mult mai bine
cu noi nine [4].
A descoperi arta i frumosul
Exist anumite activiti, care ajut la formarea
unei personaliti armonioase i fericite, sensibil fa de
frumos i arta este una din ele.
Pentru a dinamiza procesul de dezvoltare a
emoiilor, fanteziei i a dezvolta o personalitate liber,
capabil s asimileze valorile culturii universale i
naionale, este necesar de a crea un mediu favorabil i
pozitiv. Un rol important i revine prezenei unei ambiane
plcute i creative, n care am putea comunica fr
restricii, discuta teme i subiecte. Mediul favorabil
dinamizeaz procesul de obinere a experienei pozitive.
Prin procesul familiarizrii cu opera de art,
limbajul plastic, tehnici de lucru, se mbogesc nu numai
cunotinele, dar i viaa spiritual, ntruct acestea
antreneaz emoiile i tririle interioare. Aceasta ne
impulsioneaz spre activiti noi, contribuind la formarea
emoiilor pozitive i fiind un bun mijloc de a ne ajuta s ne
dezvoltm integral i armonios n toate dimensiunile vieii
spirituale.
Dezvoltarea creativitii plastice, a gustului estetic,
a capacitii de exprimare faciliteaz tendina ctre
libertatea cugetului, ctre fericire i sentimente estetice,
contribuie la dezvoltarea competenelor de creaie artistic
i sporete ncrederea n forele proprii [8].
nlocuirea influenelor negative cu cele pozitive
Este important s identificm factorii externi
negativi. De exemplu, starea de spirit poate fi otrvit,
dac suntem nconjurai de persoane negative. Dac nu
suntem suficient de ateni, vom ncepe s adoptm
gndurile lor. Prin urmare, trebuie s fim ateni la
influenele negative. S limitm expunerea la aceste
gnduri ct mai mult posibil. De asemenea, trebuie s
evitm discuia propriilor planuri cu oameni care nu ne
ncurajeaz i nu ne susin visurile.
n schimb, ne nconjurm cu gnduri i aciuni de
la oamenii care ne motiveaz. Dac suntem demotivai,
oamenii din jurul nostru ne vor face s ne simim mai bine.
Energia pozitiv care ne nconjoar ne va ajuta s ne
mbuntim modul de gndire.
Controlul fricii
Frica este, de cele mai multe ori, ceea ce ne ine
departe de succes. Ne este fric s ne asumm riscuri din
teama de a pierde sigurana de acum. Putem ncerca s ne
good or bad, is useful and helpful. We have to be

attentive to what happens in our lives. We should not
take them too seriously and leave life pass through.
Positive affirmations
Affirmations are positive statements of a
desired outcome or objective. In general, expressions
are short, credible and concentrated. Their multiple
repeat is opening new ways in our subconscious thus
creating another way of thinking. In our case we are
evidently following positive thinking. Short and
positive affirmations will give us necessary confidence.
Should we repeat daily: Yes, I can do this we will
feel better with ourselves [4].
Discovering art and beauty
There are several activities that help us to
create a harmonious and happy personality that is
sensible to beauty, and art is one of them.
In order to stimulate the process of emotions
and fantasy development as well as development of an
independent personality capable to assimilate national
and universal culture, a favourable and positive
ambiance should be created. An important role is
attributed to a pleasant and creative ambiance in which
we could communicate without restrictions, discuss
different themes and subjects. A favourable ambiance
is speeding up the process of obtaining a positive
experience.
As emotions and inner feelings are involved,
acquaintance with work of arts, artistic language,
working techniques enriches not only knowledge but
spiritual life as well. This determines us for new
activities contributing to creation of positive emotions
and being a good tool in helping us to develop
ourselves integrally and harmoniously in every aspect
of spiritual life.
Development of plastic creativity, aesthetic
taste, and capacity of self-expression facilitates the
tendency toward freedom of mind, happiness and
aesthetic sentiments, contributes to the development of
competencies of artistic creation and increases selfconfidence [8].
Replacing negative influences with positive
It is important to identify negative external
factors. For example, mood can be poisoned if we are
surrounded by negative people. If we are not
sufficiently attentive we will start to accept their ways
of thinking. Respectively, we should be attentive with
negative influences. We should limit exposure to these
thoughts as much as possible. As well, we should avoid
discussions of personal plans with people that do not
encourage us and do not support our dreams.
Instead, we should be encouraged with thoughts
and actions of people that motivate us. People from
around us will make us feel better should we be
demotivated. Positive energy that surrounds us will
help us to improve the ways of thinking.
Fear control
More often fear is what takes us away from
83
convingem c suntem fericii n starea actual atunci cnd,

n realitate, nu suntem.
Ce temeri avem? Analiznd pas cu pas temerile
vedem unde putem s le transformm n ceva pozitiv.
Cnd ne confruntm cu propriile temeri, de multe ori,
realizm c cel mai ru scenariu nu este la fel de ru cum
ne imaginm. De fapt, beneficiile schimbrii justific,
adesea, asumarea riscului.
Discuiile pozitive
n discuii, nu dm sfaturi, dac nu ni se cere.
Facem complimente i suntem sinceri n ce spunem.
nvm a tcea. ncurajm, consolm i oferim mulumire
i ajutor.
S ne bucurm de momentele pozitive
Este mult mai uor s avem o atitudine pozitiv,
dac ne concentrm pe cele mai bune momente din via.
Este inevitabil s ai i probleme i provocri, trebuie ns
s i aminteti c aa e viaa, are i urcuuri i coboruri.
Iar dup fiecare perioad mai puin bun, vine una
excelent!
Prin urmare, alegem s ne umplem mintea cu
gnduri i imagini pozitive. S facem din asta un obicei
contient. Pentru nceput, putem ncepe prin a aprecia tot
ceea ce avem acum. O stare de recunotin ajut foarte
mult la gndirea pozitiv.
Concluzie. Oamenii i schimb cu greu
atitudinile, datorit faptului c acestea au o component
emoional, mai degrab dect raional. Stima de sine,
prejudecata, atracia, mi place..., ursc..., nu-mi place....,
iubesc..., admir...., detest... Atitudinile sunt sentimente
adnci nrdcinate care iau forma unor reacii pozitive,
negative sau mixte fa de tot ceea ce ne nconjoar.
Atitudinile sunt necesare adaptrii sociale. [3]
Discuiile interne negative nu se vor schimba
imediat cu o gndire pozitiv. Dac mintea nu este
obinuit s gndeasc pozitiv, va avea nevoie de ceva
timp pentru a face trecerea. Vestea bun este c noi putem
s ne controlm gndurile i viaa. Putem s gndim
pozitiv n fiecare zi. Formarea atitudinilor pozitive nu este
mereu un proces uor. Uneori, avem zile n care pare foarte
dificil s vezi lucrurile roz.
Fericirea este un stil de a tri, aa cum alimentaia
sntoas este o decizie pe care fiecare din noi o ia
contient. Nu ne natem s fim fericii sau nefericii i
putem alege s fim fericii n via, tot aa cum ne alegem
hainele i crile preferate. Fericirea se nva.
1.
2.
3.
4.
5.
6.
7.
8.
84
success. We are frightened to take risks for fear of

losing actual safety. We could try to persuade ourselves
that we are happy in the situation when we are not.
What fears do we have? Having a step by step
analysis of our fears we could see where we can
transform them into something positive. When we are
facing own fears often we understand that the worst
scenario is not as bad as we imagined it. In fact, the
benefits of changes justify the risk taken.
Positive discussions
We should avoid offering advices until we are
asked to. We have to make compliments and to be
frank in our words.
Let us enjoy the positive moments
It is easier to have a positive attitude should we
concentrate on best moments from life. It is inevitable
to have problems and challenges and it is important to
understand that life has ascending and descending
times. And each period that is not so good is followed
by excellent time!
Respectively, we decide to fulfil our mind with
positive thoughts and images. A conscious habit is to
be done. For the first, we could start by appreciating
everything we have now. A status of gratitude
encourages positive thinking.
Conclusion. People hardly change their
attitudes due to the fact that they have an emotional
component rather than rational. Self-respect, prejudice,
attraction, I like, I hate, I dislike, I love, I
admire, I detest Attitudes are deeply rooted
feelings that manifest in positive, negative or mixed
reactions to everything surrounding us. Attitudes are
necessary for social adaptation [3].
Negative internal discussions would not change
immediately with a positive thinking. If the mind is not
acquainted to think positively, a period of time will be
necessary for transition. The good news is that we can
control our thoughts and life. We can think positively
every day. The creation of positive attitudes is not an
easy process. Sometimes there are days when it seems
impossible to see the things in pink colour.
Happiness is a way of life like healthy eating is a
conscious decision taken by each of us. We are not
born to be happy or unhappy and we can choose to be
happy like we choose our clothes and favourite books.
Happiness could be learned.
CIOMAG R. V., Atitudinea trstur caracterial important n obinerea performanelor sportive,
Bucureti, 2012.
Dicionar enciclopedic de psihologie, Ed. Babel, Bucureti, 1997.
MUCCHIELLI A., Noua psihologie, Editura tiinific, Bucureti, 1994.
NECULAU A., Manual de psihologie social, Ed. Polirom, Iai, 2003.
POPOVICI S., Formarea, meninerea i msurarea atitudinilor.
Revista Punct.
World Happiness Report (WHR), 2012.
. ., , , 1999
SUSTENABILITATEA BALANEI
DE PLI A REPUBLICII
MOLDOVA
Drd., Marina SOLOVIOVA, ASEM
ef de secie, Direcia Balana de pli,
Banca Naional a Moldovei
Articolul abordeaz problema sustenabilitii
contului curent al balanei de pli pe exemplul Republicii
Moldova. Cu acest scop, am utilizat criteriile convenionale
de apreciere a strii balanei de pli descrise de MilesiFerretti, Razin (1996), Roubini, Wachtel (1997). Rezultatele
arat faptul c, dei exist unele aspecte pozitive, n general,
balana de pli a Republicii Moldova se afl ntr-o stare de
dezechilibru persistent i este nesustenabil.
Cuvinte-cheie: balan de pli, cont curent,
echilibru extern, sustenabilitate
JEL: F32, F41
Introducere. n ultimii ani, dezechilibrele globale
de cont curent au constituit, tot mai des, subiectul
dezbaterilor, fiind evideniate ca unul din factorii ce au
contribuit la turbulena legat de criza financiar din anii
2008-2009. Criza de datorie, cu care se confrunt n ultimii
ani Grecia, este, de asemenea, o consecin a evoluiei
necontrolate a deficitului balanei de pli a acestei ri ce a
condus la acumularea unei datorii externe nesustenabile. Cu
toate c, n urma politicilor economice de ajustare realizate
de guvern, contul curent al Greciei a devenit, n prezent,
excedentar, ara suport, n continuare, consecinele grave
ale crizei, cu repercusiuni asupra ntregii zone euro.
Exist preri potrivit crora dezechilibrele de cont
curent nu reprezint un motiv de ngrijorare (aa-numita
doctrin Lawson). n conformitate cu aceasta, deoarece
contul curent al balanei de pli este rezultatul net al
economiilor i investiiilor, private i publice, deciziile
private descentralizate cu privire la economii i investiii
sunt optime i, astfel, conduc la un cont curent optim. Statul
nu poate s cunoasc mai bine dect agenii economici
privai, care trebuie s fie volumul economiilor i
investiiilor private, de aceea, atunci cnd modificarea
contului curent rezult
dintr-o schimbare a
comportamentului sectorului privat, statul nu trebuie s
intervin, ci trebuie s se concentreze asupra bugetului
public naional. ns, n lumina recentelor crize globale,
asemenea preri au devenit puin convingtoare. C. Reinhart
i V. Reinhart (2009) [1] au studiat un eantion larg de
economii emergente i dezvoltate, n sensul nclinaiei lor
spre diferite tipuri de crize financiare, ajungnd la concluzia
c, n prezena unor deficite substaniale de cont curent,
crete nclinaia economiilor emergente spre crize, n timp
ce, pentru economiile dezvoltate, rezultatele sunt mixte. ntrun studiu realizat pe urmele crizei globale din 2008-2009,
Frankel i Saravelos (2010) [2] demonstreaz c starea
contului curent are putere de prezicere a crizelor valutare.
BALANCE OF PAYMENTS
SUSTAINABILITY: EVIDENCE
FROM THE REPUBLIC OF
MOLDOVA
PhD student Marina SOLOVIOVA, ASEM
Head of section, Balance of Payments
Division, National Bank of Moldova
The article tackles the issue of balance of
payments current account sustainability as exemplified
by the Republic of Moldova. To that end, we have used
the conventional criteria for BOP assessment
described by Milesi-Ferretti, Razin (1996), Roubini,
Wachtel (1997). The results show that, although
several positive aspects have been found, in general
terms the current account of the Republic of Moldova
is in a state of persistent imbalance and is not
sustainable.
Key words: balance of payments, current
account, external imbalance, sustainability
JEL: F32, F41
Introduction. Over recent years, global current
account imbalances have increasingly been at the
center of debate as a contributing factor to the turmoil
related to the financial crisis of 2008-2009. The debt
crisis endured by Greece lately is also a consequence of
uncontrolled evolution of its current account deficit,
which has entailed the accumulation of an
unsustainable external debt. Although nowadays
Greeces current account balance has come to a surplus
as a result of adjustment economic policies undertaken
by the government, the country is still facing the harsh
consequences of the crisis, with repercussions over the
entire Eurozone.
According to some views, current account
imbalances are not a matter of concern (the so-called
Lawson doctrine). The rationale is, since the BOP
current account is the net result of savings and
investment, private and public, private decentralized
decisions on saving and investment are optimal and
thus lead to an optimal current account. The
government cannot know better than private economic
agents what the amount of private savings and
investment should be, thus, when changes in current
account arise from a shift in private sector behavior,
the government should not interfere and should instead
concentrate on the state budget. However, in the light
of recent global crises such views have become
unpersuasive. Reinhart and Reinhart (2009) [1] have
studied a large sample of emerging and developed
economies in terms of their inclination to various types
of financial crises, reaching the conclusion that in the
presence of substantial current account deficits the
inclination of emerging economies to crises increases,
85
Cato i Milesi-Ferretti (2013) [3] au studiat un eantion de

economii emergente i dezvoltate, n perioada 1970-2011 i
au constatat faptul c att stocul net, mare, de angajamente
financiare externe, ct i deficitele mari de cont curent
(msurate ca atare ori ca abateri de la normele
convenionale), majoreaz probabilitatea crizelor de datorie.
Pentru a nu admite n Republica Moldova o situaie
similar celei din Grecia este necesar, n primul rnd,
evaluarea msurii n care tendinele indicatorilor balanei de
pli a rii urmeaz o cale sustenabil. n vederea atingerii
acestui scop, noi vom realiza, n prezentul articol,
urmtoarele
obiective:
sistematizarea
criteriilor
convenionale de apreciere a strii balanei de pli descrise
n literatura de specialitate, aplicarea lor la situaia Republicii
Moldova, evaluarea vulnerabilitii generale a contului
curent al rii noastre.
1. Definiii i metode. n literatura de specialitate, se
constat divergene n ceea ce privete definiia exact a
sustenabilitii contului curent al balanei de pli, ns, n
linii generale, sustenabilitatea presupune faptul c
meninerea politicii de stat curente sau a comportamentului
sectorului privat nu va conduce la necesitatea unor
schimbri drastice n politici sau la o criz. Contul curent al
rii se consider sustenabil, dac nu exist motive de a
presupune c el va cauza modificri rapide ale ratelor
dobnzii, ale cursului de schimb, ale ratei de cretere
economic sau orice alt destabilizare economic la nivel
domestic sau global.
Nu exist criterii teoretice simple i universale
pentru aprecierea sustenabilitii contului curent. Totui,
anumite reguli practice au fost formulate n literatura de
specialitate (Milesi-Ferretti, Razin, 1996 [4]; Roubini,
Wachtel, 1997 [5]) i pot fi sistematizate n felul urmtor:
1. Raportul soldului contului curent la PIB.
Numeroase crize (valutare sau de datorie) au avut
loc n prezena unui deficit de cont curent mare,
comparativ cu PIB (Chile n 1981, Finlanda n 1991,
Mexic n 1994, Thailanda n 1997, SUA n 2007,
Islanda n 2008, Grecia n 2010 etc.). n prezent,
plafonul convenional pentru raportul contului curent
la PIB este de 5%. Un deficit ce depete acest
nivel trebuie s atrag atenia, n particular, dac e
finanat din fluxuri financiare pe termen scurt;
2. Originea dezechilibrului. Dac deficitul contului
curent este semnificativ i rezult din reducerea
economiilor naionale (i nu din creterea
investiiilor), atunci el este mai puin sustenabil.
Raionamentul rezid n faptul c finanarea
deficitului de cont curent necesit mprumutarea
mijloacelor de peste hotare, iar aceasta este mai
puin riscant, dac finaneaz investiiile i nu
consumul (care se manifest prin scderea
economiilor). Investiiile noi majoreaz capacitatea
de producie i, implicit, viitoarele ncasri din
exporturi. Este relevant i tipul investiiilor:
investiiile n capitalul productiv sunt mai benefice
pentru sustenabilitatea contului curent dect
investiiile imobiliare;
86
while the evidence for developed economies is mixed.

In a research carried out in the wake of the 2008-2009
global crisis, Frankel and Saravelos (2010) [2] show
that the state of the current account has some predictive
power for currency crises. Cato and Milesi-Ferretti
(2013) [3] have studied a sample of emerging and
developed economies over 1970-2011 and found that a
large stock of net foreign liabilities and a high current
account deficit (measured as such or as deviations from
conventional norms) both increase the probability of
debt crises.
In order to prevent a situation similar to that of
Greece in the Republic of Moldova, it is necessary,
first of all, to evaluate to what extent the balance of
payments trends are following a sustainable path. To
achieve this goal, we will fulfill the following
objectives in this article: systematize the conventional
criteria for BOP assessment described in research
literature, apply them to the situation of the Republic of
Moldova, and evaluate the general vulnerability of our
countrys current account.
1. Definitions and methods. There are
divergences in the research literature as to the exact
definition of BOP current account sustainability.
However, in general terms, sustainability implies that
the continuation of the current state policy or private
sector behavior will not lead to the need for drastic
changes in policies or to a crisis. The current account is
considered sustainable if there are no reasons to believe
that it will cause rapid changes in interest and exchange
rates, in economic growth rates or any other economic
destabilization at the domestic or global level.
There are no simple and universal criteria for the
assessment of current account sustainability.
Nevertheless, some practical rules have been developed
by researchers (Milesi-Ferretti, Razin, 1996 [4];
Roubini, Wachtel, 1997 [5]) and can be systematized
as follows:
1. Current account to GDP ratio. Many crises
(currency or debt) occurred in the presence of a
large current account deficit relative to GDP (Chile
in 1981, Finland in 1991, Mexico in 1994, Thailand
in 1997, USA in 2007, Iceland in 2008, Greece in
2010 etc.). Today, the conventional ceiling for the
current account to GDP ratio is 5%. A deficit
exceeding this level should attract attention,
especially if it is financed by short-term financial
flows;
2. Origin of imbalance. If a current account deficit is
considerable and results from a decrease in national
saving (rather than from a growth in investment),
then it is less sustainable. The rationale is that
financing a current account deficit requires
borrowing from abroad, and this is less risky when
it finances investment rather than consumption
(which causes saving to decrease). New investment
increases production capacity and, implicitly, future
exports revenue. The type of investment is also
3. Structura contului curent. Deficitul este mai puin

sustenabil, dac soldul negativ rezult mai mult din
balana comercial dect din balana veniturilor,
deoarece deficitele comerciale mari i persistente
reprezint simptomele problemelor structurale de
competitivitate, n timp ce veniturile negative pot
constitui un vestigiu al datoriilor externe acumulate
n trecut.
4. Gradul de deschidere a economiei. Exporturile
reprezint sursa de valut pentru deservirea datoriei
externe. Respectiv, rile cu exporturi mai mari i
onoreaz angajamentele financiare cu mai mult
uurin. Pe de alt parte, ponderea mare a
exporturilor n PIB poate fi o surs de
vulnerabilitate, dac creterea economic se bazeaz
excesiv pe exporturi n condiiile cererii interne
slabe.
5. Gradul de diversificare a comerului extern. Sunt
vulnerabile la ocuri externe rile al cror export
este dominat de un numr redus de bunuri i rile
dependente de importurile de materii prime i
resurse energetice.
6. Raportul datoriei externe la PIB. O evoluie a
contului curent, ce duce la creterea exagerat a
datoriei externe fa de PIB, indic faptul c acesta
este nesustenabil, deoarece creditorii externi, la un
anumit moment, i vor pierde ncrederea n
capacitatea rii de a-i onora obligaiunile financiare
i vor limita volumul creditrii, ceea ce va duce la o
criz a datoriei externe.
7. Dinamica creterii economice. Ceteris paribus,
ratele mai nalte de cretere economic se asociaz
cu sustenabilitatea mai mare a balanei de pli,
deoarece creterea economic mai mare reduce
raportul dintre datoria extern i PIB i majoreaz
capacitatea rii de a onora serviciul datoriei externe.
8. Structura intrrilor de capital. Intrrile de capital pe
termen scurt sunt mai riscante dect cele pe termen
lung, iar intrrile de capital sub form de investiii n
aciuni sunt mai stabile dect cele ce genereaz
datorii. Printre intrrile de capital generatoare de
datorii, cele ce provin de la organizaiile financiare
internaionale sau guverne sunt mai stabile,
comparativ cu cele oferite de creditorii privai.
9. Volumul deservirii datoriei externe. O povar mare
cauzat de deservirea angajamentelor externe
mpiedic finanarea contului curent i l face mai
puin sustenabil. De asemenea, plile externe mari
legate de serviciul datoriei externe distrag resursele
de la importarea bunurilor de capital i, astfel,
submineaz creterea economic viitoare.
10. Volumul activelor de rezerv. Activele de rezerv
suficiente i permit rii s-i finaneze contul curent
la un cost mai sczut i, astfel, reduc riscul
nesustenabilitii. Totodat, activele de rezerv
excesive distrag mijloacele de la utilizri productive
i pot mpiedica creterea economic.
11. Regimul ratei de schimb. Ratele de schimb fixe ajut
relevant: investment in productive capital is more

beneficial to the current account sustainability that
investment in real estate;
3. Current account structure. A deficit is less
sustainable when it arises more from the trade
balance than from the income balance, because
large and persistent trade deficits are symptomatic
of structural competitiveness issues, while negative
income can be a reminiscence of debt accumulated
in the past.
4. Economic openness degree. Exports are a source
of foreign exchange needed to service the external
debt. Thus, countries with larger exports are able to
fulfill their financial commitments more easily. On
the other hand, a large share of exports in GDP can
be a source of vulnerability if economic growth is
excessively driven by exports while domestic
demand is weak.
5. External trade diversification. Countries whose
exports are dominated by a limited number of
goods and countries that are dependent on imports
of raw materials and energy resources are more
vulnerable to external shocks.
6. External debt to GDP ratio. An evolution of
current account leading to an exaggerated growth
in external debt to GDP ratio points at its
unsustainability, because foreign creditors will, at
some time, lose their trust in the countrys ability to
honor its financial liabilities and will limit the
amount of lending, which will entail a debt crisis.
7. Economic growth trends. Ceteris paribus, higher
growth rates are associated with higher BOP
sustainability, because a faster economic growth
reduces the external debt to GDP ratio and
increases the countrys ability to repay its external
debt.
8. Capital inflows structure. Short-term capital
inflows are riskier than long-term, and capital
inflows in the form of equity are more stable than
those that generate debt. Among debt-generating
capital inflows those coming from international
financial organizations or foreign governments are
more stable as compared to those offered by private
creditors.
9. Amount of external debt service. A large burden of
external liabilities servicing precludes the financing
of current account, making it less sustainable. In
addition, large external payments related to external
debt service draw resources away from the imports
of capital goods and thus undermine future
economic growth.
10. Reserve assets amount. Sufficient reserve assets
help the country to finance its current account at a
lower cost and thus reduce the risk of
unsustainability. At the same time, excessive
reserve assets draw resources away from
productive uses and can impede economic growth.
11. Exchange rate regime. Fixed exchange rates help
87
la reducerea temporar a inflaiei, ns

dezechilibreaz balana de pli. Ratele de schimb
flotante susin balana de pli, dar alimenteaz
inflaia intern, declannd spirala depreciereinflaie.
12. Sntatea sistemului financiar-bancar. Investiiile
strine directe presupun participarea nerezidenilor
n sistemul financiar naional. Fragilitatea sistemului
bancar al rii i va descuraja pe investitorii strini
direci, iar ara va fi nevoit s-i finaneze deficitul
de cont curent din mprumuturi, majornd datoria
extern.
13. Stabilitatea politic. Turbulena situaiei politice are
acelai impact asupra echilibrului balanei de pli ca
i fragilitatea sistemului bancar. De asemenea, riscul
c un nou regim nu va continua politicile economice
coordonate anterior va reduce oferta de mprumuturi
de la organizaiile internaionale.
2. Rezultate: sustenabilitatea balanei de pli a
Republicii Moldova. Cu excepia perioadei 2001-2004,
deficitul contului curent al Republicii Moldova, raportat la
PIB, a depit plafonul critic de 5%. Pe de alt parte, PIB-ul
Republicii Moldova se afl n faza de cretere, ceea ce
majoreaz capacitatea rii de a onora serviciul datoriei
externe.
n ceea ce privete structura contului curent,
constatm faptul c deficitele nregistrate n balana de pli
a Republicii Moldova au fost ntotdeauna dominate de
deficitele comerciale (figura 2.1). Aceasta ne sugereaz
faptul c, n Republica Moldova, exist probleme structurale
legate de competitivitate, ceea ce face deficitul de cont
curent s fie mai puin sustenabil. Latura pozitiv a situaiei
n comerul exterior cu bunuri al Republicii Moldova const
n faptul c exporturile raportate la PIB (42% n 2014) arat
un grad destul de nalt de deschidere a economiei, ceea ce
nseamn c Republica Moldova are posibilitatea de a
genera mijloacele valutare necesare pentru onorarea
angajamentelor sale financiare externe. Pe de alt parte,
sustenabilitatea contului curent este subminat de
concentrarea excesiv a comerului: (1) Din punct de vedere
al structurii pe bunuri, la export, predomin produsele
agroalimentare (46% n 2014), iar la importuri resursele
energetice (20% n 2014); (2) Din punct de vedere
geografic, exporturile spre doar patru ri (Romnia, Rusia,
Italia, Germania) au constituit 53% n 2014, iar importurile,
la fel, au fost dominate de Romnia, Rusia, Ucraina i
Germania (55%). Soldul veniturilor este pozitiv, deoarece
veniturile obinute de rezideni din munca prestat patronilor
nerezideni depesc volumul dividendelor i dobnzilor
pltite investitorilor strini. Transferurile curente
nregistreaz excedente graie transferurilor personale
primite de peste hotare, precum i transferurilor
interguvernamentale. Totui, veniturile i transferurile
curente nete nu acoper integral deficitul comercial (85% n
2014), crend o necesitate de finanare acoperit din surse
externe (451 mil. dolari SUA n 2014).
88
to temporarily reduce inflation, but disbalance the

BOP. Floating exchange rates support the BOP, but
fuel domestic inflation by launching the
depreciation-inflation spiral.
12. Money and banking system soundness. Foreign
investment implies the participation of nonresidents
in the domestic financial system. The fragility of
the countrys banking system will discourage
foreign direct investors and the country will have to
finance its current account deficit by means of
loans, increasing its external debt.
13. Political stability. The turbulence of political
situation has the same impact on BOP equilibrium
as banking system fragility. Besides that, the risk of
a new regime not continuing previously
coordinated economic policies will reduce the
supply of loans from international organizations.
2. Results: sustainability of the BOP of the
Republic of Moldova. Apart from years 2001-2004,
Moldovas current account to GDP ratio has always
exceeded the critical ceiling of 5%. On the other hand,
Moldovas GDP is in the growth phase, which
increases the countrys ability to honor its external debt
service.
As for the current account structure, we note that
deficits recorded in Moldovas current account have
always been dominated by trade deficits (figure 2.1).
This suggests that the Republic of Moldova is facing
structural competitiveness-related issues, which makes
the current account deficit less sustainable. The
positive side of Moldovas external trade in goods is
that the exports to GDP ratio (42% in 2014) points at a
fairly high degree of economic openness, which means
that the Republic of Moldova has the possibility to
generate foreign exchange needed for settling its
external financial liabilities. On the other hand, the
current account sustainability is undermined because of
an excessive concentration of trade: (1) From the point
of view of the structure by commodities, exports are
dominated by agricultural and foodstuff products (46%
in 2014), and imports by energy resources (20% in
2014); (2) From the geographic point of view, exports
to just four countries (Romania, Russia, Italy,
Germany) accounted for 53% in 2014, while imports,
in a similar fashion, were dominated by Romania,
Russia, Ukraine, and Germany (55%). The income
balance is positive because the compensation of
resident employees received from nonresident
employers exceeds the amount of dividends and
interest paid to foreign investors. Current transfers
record surpluses due to personal transfers received
from abroad, as well as to intergovernmental transfers.
However, income and current transfers do not cover the
trade deficit entirely (85% in 2014), creating a
financing need covered from external sources (USD
451 million in 2014).
Figura 2.1. Structura contului curent al balanei de pli a Republicii Moldova pe principalele
componente, 1995-2014, milioane dolari SUA / Figure 2.1. Structure of the current account of Moldovas
BOP by main components, 1995-2014, USD million
Sursa: Elaborat de autor n baza datelor de la BNM / Source: Elaborated by the author based on NBM data
Din punct de vedere al conturilor naionale,
deficitele persistente de cont curent nregistrate n
balana de pli a Republicii Moldova rezult din
discrepana dintre economii brute i investiii (figura
2.2): investiiile rii depesc economiile naionale, iar
excesul de investiii este finanat de nerezideni, fapt
reflectat de situaia contului curent. Dac dezagregm
indicatorii prezentai n figura 2.2, artnd economia
brut ca diferen ntre venitul naional disponibil brut
i consum (figura 2.3), observm c deficitele de cont
curent din ultimii ani se datoreaz nu att evoluiei
investiiilor, ct consumului n cretere (care
diminueaz economia brut). De asemenea, n structura
formrii brute de capital, predomin investiiile n
construcii (60% n 2014), i nu n maini i utilaje.
Putem spune c deficitul actual de cont curent este
neproductiv, mijloacele obinute din exterior sunt
ndreptate, prioritar, spre consum i investiii
imobiliare, i nu spre majorarea capacitilor de
producie, ceea ce nu contribuie la creterea viitoarelor
ncasri din exporturi.
Necesitatea de a finana din surse externe
deficitul de cont curent conduce la acumularea datoriei
externe, care a ajuns, la sfritul anului 2014, la 6.5
miliarde dolari SUA sau la 82%, n raport cu PIB.
Datoria extern public i public garantat se
ncadreaz n normele convenionale, ns datoria
extern privat depete aproape de trei ori volumul
datoriei externe publice, crend motive de ngrijorare.
Este alarmant i volumul deservirii datoriei externe:
anual, Republica Moldova aloc, n aceast direcie,
circa un sfert din ctigurile sale din exporturi de bunuri
i servicii (24% n 2014). n totalul datoriei externe, sub
From the point of view of national accounts,

the persistent current account deficits recorded in
Moldovas BOP result from the discrepancy between
gross savings and investment (Figure 2.2): the
countrys investment exceeds national savings, and the
exceeding investment is financed by nonresidents,
which is reflected by the state of the current account. If
we disaggregate the indicators shown in Chart 2.2,
presenting the gross savings as difference between the
gross national disposable income and consumption
(Figure 2.3), we note that the current account deficits
recorded lately are due not so much to the investment
dynamics as to the growing consumption (which
reduces the gross savings). In addition, the structure of
gross capital formation is dominated by investment in
real estate (60% in 2014) rather than investment in
machinery and equipment. One can say that the
present-day current account deficit is unproductive,
resources obtained from abroad are mainly allocated to
consumption and investment in real estate rather than
to the buildup of production capacities, which does not
contribute to the growth of future exports revenue.
The need to finance the current account deficit
from external sources leads to the accumulation of
external debt, which reached US$ 6.5 billion at the end
2014, or 82% relative to GDP. The public and publicly
guaranteed external debt fits conventional norms;
however, the private external debt exceeds almost
threefold the amount of public external debt, giving
rise to concerns. The amount of external debt service is
also alarming: each year the Republic of Moldova
allocates to this direction approximately one quarter of
its revenues from exports of goods and services (24%
89
form de mprumuturi predomin mprumuturile

contractate de la creditorii nerezideni privai, iar
ponderea mprumuturilor provenite de la organizaii
internaionale sau guverne strine constituie 44%
(2014). Situaia alarmant a datoriei externe este
atenuat de faptul c, n structura angajamentelor
financiare externe (reflectate n poziia investiional
internaional) predomin cele pe termen lung cu o
pondere de 64%, din care stocul de investiii strine
directe constituie circa o jumtate sau 29% din totalul
angajamentelor financiare externe (2014).
in 2014). The total external debt in the form of loans is

dominated by loans drawn from private nonresident
creditors, while the share of loans taken from
international organizations or foreign governments is
44% (2014). The disturbing state of external debt is
mitigated by the fact that in the structure of external
financial liabilities (reflected in the international
investment position) long-term liabilities are prevailing
with a share of 64%, of which the stock of foreign
direct investment makes up about half, or 29% of the
total external financial liabilities (2014).
Figura 2.2. Deficitul contului curent al balanei de pli a Republicii Moldova ca diferen dintre
economia brut i investiiile totale, 1995-2019 (prognoz), milioane dolari SUA /
Figure 2.2. Current account deficit of Moldovas BOP as difference between gross saving and investment,
1995-2019 (forecast), USD million
Sursa: Elaborat de autor n baza datelor FMI (World Economic Outlook, April 2015) /
Source: Elaborated by the author based on IMF data (World Economic Outlook, April 2015)
Figura 2.3. Reprezentarea grafic a identitii CC = VNDB C G I n cazul Republicii Moldova, 20072013, milioane lei / Figure 2.3. Graphic representation of identity: CA = GNDI C G I in the case of
the Republic of Moldova, 2007-2013, MDL million
Sursa: Elaborat de autor n baza datelor BNS / Source: Elaborated by the author based on NBM data
n ceea ce privete suficiena activelor oficiale de
rezerv ce stau la dispoziia Bncii Naionale a
Moldovei, la sfritul anului 2014, volumul lor
corespundea criteriilor de adecvaie: acoperirea a cel
puin 3 luni de importuri de bunuri i servicii, acoperirea
90
Concerning the sufficiency of official reserve

assets available to the National Bank of Moldova, at
the end of 2014 their amount met the adequacy criteria:
coverage of at least 3 months of imports of goods and
services, coverage of 20% of broad money M2,
a 20% din masa monetar M2, acoperirea a 100-150%

din suma: 30% din datoria pe termen scurt + 10% din
alte angajamente de portofoliu + 5% din M2 + 5% din
exporturi. ns, rezervele nu corespund criteriului ce
presupune acoperirea integral a datoriei externe pe
termen scurt: la sfritul anului 2014, rezervele au
acoperit 91% din aceasta.
Cu referire la starea sistemului financiar-bancar,
care, de asemenea, determin gradul de sustenabilitate a
balanei de pli, constatm fragilitatea acestuia: la
momentul actual, trei bnci comerciale din Republica
Moldova se afl n regim de administrare special, cu
perspectiva lichidrii.
Nici situaia politic curent nu favorizeaz
sustenabilitatea balanei de pli: dei stabilitatea cursului
geopolitic constituie un plus, o latur negativ este durata
scurt de funcionare a guvernului precedent (3 luni) i
faptul c puterea, n Parlament, este reprezentat de o
coaliie, i nu de o majoritate, ceea ce face situaia mai
puin stabil.
Rezumnd cele descrise mai sus (tabelul 2.1),
putem conchide c balana de pli a Republicii Moldova
se afl ntr-o stare de dezechilibru persistent, este
nesustenabil i necesit aplicarea combinat a unui set
de politici economice pentru mbuntirea evoluiei
soldului contului curent.
coverage of 100-150% of the sum: 30% of short-term

debt + 10% of other portfolio liabilities + 5% of M2 +
5% of exports. Nevertheless, reserve assets do not meet
the criterion that requires full coverage of short-term
external debt: reserves covered only 91% of it at the
end of 2014.
As for the soundness of money and banking
system, which also determines the sustainability degree
of the BOP, we note its fragility: as of the current date,
three commercial banks in the Republic of Moldova
are under the special administration regime, facing the
prospect of being closed down.
Neither is the current political situation
conducive to BOP sustainability: although the
stability of the geopolitical course is a plus, a
negative side is the short period of activity of the
previous government (3 months) and the fact that
the parliamentary power is represented by a
coalition rather than a majority, which makes the
situation less stable.
Summing up the above-mentioned aspects
(table 2.1), we can conclude that Moldovas BOP is
in a state of persistent imbalance, is unsustainable
and requires the combined application of a set of
economic policies to enhance the current account
dynamics.
Tabelul 2.1/ Table 2.1
Grila de evaluare a sustenabilitii balanei de pli a Republicii Moldova / Moldovas current account
sustainability assessment
Criteriul/Criterion
Valoarea (anul 2014, date

preliminare) / Value (2014,
preliminary data)
Contul curent / PIB /

Current account / GDP
Dinamica PIB / GDP dynamics
Impactul asupra sustenabilitii /

Impact on sustainability
Negativ / Neutru /
Pozitiv /
Negative
Neutral
Positive
3
-5.7%
Originea deficitului de cont curent /

Origin of current account deficit
Tipul predominant al investiiilor /
Main type of investment
Sursa deficitului n structura
contului curent / Source of deficit in
CA structure
Export de bunuri i servicii / PIB /
Exports of goods and services /
GDP
Diversificarea comerului exterior /

External trade diversification
+4.6%
creterea investiiilor (+17%) i
consumului (+9%) / growth in
investment (+17%) and in
consumption (+9%)
imobiliare 60% / real estate 60%
balana comercial / trade balance
42%
export: 46% - produsele
agroalimentare, import: 20% resursele energetice; 4 ri-partenere
principale / exports: 46% agricultural products and foodstuff,
imports: 20% - energy resources; 4
main partner countries
91

1
82%, din care public - 22%, privat

- 60% / 82%, of which public
22%, private 60%
Datoria extern brut / PIB /

Gross external debt / GDP
Deservirea datoriei externe / Export
de bunuri i servicii /
External debt service / Exports of
goods and services
Ponderea creditorilor organizaii
internaionale sau guverne n DE
sub form de mprumuturi / Share of
creditors international
organisations or governments in ED
in the form of loans
Structura pe termene de scaden a
stocului de angajamente financiare
externe / Structure by maturity of
external financial liabilities stock
24%
44%
pe TL: 64%, din care ISD 45% sau

29% din total / LT: 64%, of which
FDI 45% or 29% of total
91% din DE pe TS, pentru restul
criteriilor corespunde / 91% of ST
ED, satisfies the rest of criteria
Volumul activelor de rezerv /

Reserve assets stock
Regimul ratei de schimb /
Exchange rate regime
flotant / floating
Starea sistemului financiar-bancar /

Soundness of the financial-banking
system
Situaia politic / Political situation
fragil: 3 bnci n regim de

administrare special / fragile: 3
banks under special administration
regime
curs stabil, coaliie parlamentar,
guvernul precedent a funcionat
timp de 3 luni / stable course,
parliamentary coalition, the last
government has functioned for 3
months
Sursa: Elaborat de autor/ Source: Elaborated by the author

Concluzii. Contul curent al balanei de pli a unei
ri se consider sustenabil atunci, cnd nu exist motive de
a presupune c el va cauza modificri rapide ale ratelor
dobnzii, ale cursului de schimb, ale ratei de cretere
economic sau orice alt destabilizare economic la nivel
domestic sau global. Aplicnd criteriile convenionale
descrise n literatura de specialitate, constatm c balana de
pli a Republicii Moldova este nesustenabil, deoarece:
(1) Deficitele de cont curent nregistrate n balana de pli a
Republicii Moldova sunt persistente i depesc limita
convenional de 5% din PIB; (2) Evoluia ascendent a
deficitului de cont curent al balanei de pli a Republicii
Moldova rezult att din creterea investiiilor (dominate de
investiiile imobiliare), ct i din majorarea consumului;
(3) Sursa deficitului de cont curent al Republicii Moldova
sunt deficitele comerciale. Aceasta nseamn c, n ar,
exist probleme structurale legate de competitivitate, care nu
pot fi depite ntr-un timp scurt; (4) Comerul exterior al
Republicii Moldova este excesiv de concentrat, att din
punctul de vedere al structurii pe bunuri, ct i din punct de
vedere geografic; (5) Datoria extern public i public
garantat a Republicii Moldova se ncadreaz n normele
92
Conclusions. The current account of a

countrys BOP is considered sustainable if there are
no reasons to believe that it will cause rapid changes
in interest and exchange rates, in economic growth
rates or any other economic destabilization at the
domestic or global level. Having applied conventional
criteria described in economic research literature we
conclude that Moldovas current account is
unsustainable because: (1) Current account deficits
recorded in Moldovas BOP are persistent and exceed
the conventional limit of 5% of GDP; (2) Growth in
the current account deficit stems from the increase in
both investment (dominated by investment in real
estate) and consumption; (3) The source of Moldovas
current account deficit are trade deficits, which means
that the Republic of Moldova is facing structural
competitiveness-related issues that cannot be solved
in a short time; (4) The external trade of the Republic
of Moldova is excessively concentrated from the
point of view of both structure by commodities and
geography; (5) The public and publicly guaranteed
external debt fits conventional norms, however, the
convenionale, ns volumul datoriei externe private creeaz

motive de ngrijorare. Este alarmant i volumul total al
deservirii datoriei externe (publice i private): anual,
Republica Moldova aloc, n aceast direcie, circa un sfert
din ctigurile sale din exporturi de bunuri i servicii. Este
ngrijortor i faptul c, n totalul datoriei externe, sub form
de mprumuturi predomin mprumuturile contractate de la
creditorii privai; (6) Activele oficiale de rezerv, conform
situaiei de la sfritul anului 2014, nu corespund criteriului
de adecvaie ce presupune acoperirea integral prin rezerve a
datoriei externe pe termen scurt (rezervele au acoperit 91%
din aceasta i sunt n scdere); (7) Fragilitatea sistemului
financiar-bancar al Republicii Moldova, precum i
instabilitatea situaiei politice, deterioreaz i mai mult
sustenabilitatea balanei de pli.
1.
2.
3.
4.
5.
6.
7.
8.
amount of private external debt gives rise to concerns.

The amount of external debt service (public and
private) is also alarming: each year the Republic of
Moldova allocates to this direction approximately one
quarter of its revenues from exports of goods and
services. Another disturbing aspect is that loans
drawn from private creditors prevail in the total
external debt in the form of loans; (6) Official reserve
assets, as of the end of 2014, do not meet the criterion
that requires full coverage of short-term external debt:
reserves covered only 91% of it and are falling; (7)
The fragility of the money and banking system of the
Republic of Moldova, as well as political instability,
impair even more the countrys current account
sustainability.
Referine / References:
REINHART C., REINHART V. Capital Flow Bonanzas: An Encompassing View of the Past and Present.
In: National Bureau of Economic Research, 2008. Working Paper No. 14321.
http://www.nber.org/papers/w14321.pdf (vizitat la 29.06.2015).
FRANKEL J. A., SARAVELOS G. Are Leading Indicators of Financial Crises Useful for Assessing
Country Vulnerability? Evidence from the 2008-09 Global Crisis. In: National Bureau of Economic
Research, 2010. Working Paper No. 16047. http://www.nber.org/papers/w16047.pdf (vizitat la
29.06.2015).
CATO L., MILESI-FERRETTI G. M. External Liabilities and Crises. In: International Monetary Fund,
2013. Working paper WP/13/113.
https://www.imf.org/external/pubs/ft/wp/2013/wp13113.pdf (vizitat la 29.06.2015).
MILESI-FERRETTI G. M., RAZIN A. Sustainability of Persistent Current Account Deficits. In: National
Bureau of Economic Research, 1996. Working Paper No. 5467. http://www.nber.org/papers/w5467.pdf
(vizitat la 29.06.2015).
ROUBINI N., WACHTEL P. Current Account Sustainability in Transition Economies. In: National Bureau
of Economic Research, 1998. Working Paper No. 6468. www.nber.org/papers/w6468.pdf (vizitat la
29.06.2015).
World Economic Outlook Database, April 2015. International Monetary Fund. Washington, DC.
http://www.imf.org/external/pubs/ft/weo/2015/01/weodata/index.aspx (vizitat la 29.06.2015).
Dinamica principalilor indicatori macroeconomici (1995-2013). Biroul Naional de Statistic al Republicii
Moldova. Chiinu, 2014.
http://www.statistica.md/public/files/serii_de_timp/conturi_nationale/serii_anuale/Dinam_princ_indic_mac
ro.xls (vizitat la 29.06.2015).
Balana de pli a Republicii Moldova. Banca Naional a Moldovei. Chiinu, 2015.
http://bnm.md/bdi/pages/reports/dbp/DBP12.xhtml (vizitat la 29.06.2015).
93
INFORMATIC / INFORMATICS
ASPECTE STATISTICE
PRIVIND COSTUL UNITAR AL
FOREI DE MUNC
STATISTICAL ISSUES IN
THE CONCEPT OF UNIT
LABOUR COSTS
Drd. Olga PANI, ASEM
PhD student Olga PANIS, ASEM
Scopul de baz al prezentei lucrri const n

expunerea unor aspecte statistice privind costul unitar al
forei de munc. Conceptual, costul unitar al forei de
munc rezult din raportul celor doi factori pe care i
determin remunerarea salariailor i productivitatea
muncii, i este considerat drept indicator al presiunilor
inflaioniste parvenite din piaa muncii, precum i al
competitivitii prin cost al economiei. Prin urmare, costul
unitar al forei de munc a fost privit n concordan cu
indicele preurilor la producia industrial i cursul nominal
de schimb efectiv, n perspectiva detectrii corelaiei dintre
indicatorii respectivi.
Cuvinte-cheie: inflaie, salarii, productivitate, costul
unitar al forei de munc
JEL: E300, J300
The purpose of this paper is to expose some

statistical issues of the unit labour costs. Conceptually, the
unit labour costs results from the ratio between two
factors that it determine - compensation per employee and
labour productivity, and is considered as an indicator of
inflationary pressures received from the labour market
and can be considered as an indicator describing cost
competitiveness of economy. Therefore, the unit cost of
labour was seen in correlation with industrial producer
price index and the nominal effective exchange rate, the
prospect of detecting of correlation between these
indicators.
Key words: inflation, wages, productivity, unit
labour costs
JEL: E300, J300
Introducere. n conformitate cu viziunea

keynesian, un alt factor, care ar putea genera inflaia, pe
lng factorul cererii interne i inflaiei importate, l
constituie presiunile din partea ofertei sau inflaiei reale[1]
(ocuri ce influeneaz cheltuielile pe care le suport
productorii). Ultimul, la rndul su, nemijlocit fiind legat
cu meninerea raportului dintre productivitatea muncii i
creterile salariale.
Productivitatea muncii reprezint un subiect
important n nelegerea actualitilor economice. Exist o
legtur direct ntre productivitate i potenialul de cretere
economic al unei ri, acesta fiind considerat al treilea
factor de cretere economic (ca factor de producere), dup
fora de munc i capital. Creterea de PIB potenial creeaz
premisele reducerii excesului de cerere existent n
economie1. Necorelarea productivitii muncii cu salariile, la
rndul su, creeaz presiuni inflaioniste prin creterea
costurilor. De asemenea, exist i un impact indirect al
productivitii asupra cursului de schimb, prin manifestarea
efectului Balassa-Samuelson care conduce la aprecierea
real (sau chiar nominal) a cursului de schimb. De aceea, o
atenie deosebit se acord comportamentului salariilor i
productivitii muncii din economie.
Astfel, dac costurile salariale cresc mai rapid dect
productivitatea, nivelul preurilor poate s creasc, datorit
aciunilor de transmitere a impulsului de cretere a
cheltuielilor salariale prin canalul costurilor agenilor
economici, manifestndu-se prin preuri mai mari la
producia lor final. Conceptul respectiv poate fi exprimat
prin intermediul indicatorului costului unitar al forei de
munc (engl. unit labour cost ULC).
Introduction. According to the Keynesian point

of view, other factors that could influence inflation,
besides demand-pull and imported inflation, is the supply
shock or real inflation [1] (shocks that influence the costs
incurred by producers). The last mentioned being directly
linked with the relationship between labour productivity
and wage growth.
Labour productivity is an important issue in
understanding economic current affairs. There is a
direct link between productivity and potential
economic growth of a country and represents the
third factor of economic growth (as a factor of
production) after labour force and capital. Potential
growth of GDP creates the premises of reduction of
the existent excess demand in the economy1. Noncorrelation between wages and labour productivity
growth creates a growth in inflation as a result of
the supply shock. Also, there is an indirect impact
of productivity on the exchange rate by BalassaSamuelson effect, which leads to the real
appreciation (or nominal) of exchange rate.
Therefore, a special attention has been focused to
the behaviour of wages and labour productivity in
the economy.
So, if wage costs grows faster than productivity,
the price level may rise as firms pass forward increased
wage costs in the form of higher product prices for
their final production. This concept can be expressed
through the unit labour costs indicator (abbreviation ULC).
Monitorizarea i reglarea gap-ului PIB (diferena dintre nivelul actual i nivelul potenial al PIB) se efectueaz
de Banca Central (Naional)
94
Conceptul economic al costului unitar al

forei de munc
Costul unitar al forei de munc poate fi
considerat drept un indicator al presiunilor pe piaa
muncii, dar i al competitivitii prin costurile
economiei; reprezint costul cu fora de munc, necesar
pentru producerea unei uniti de producie i este
calculat ca raport ntre fondul de salarii (numrul de
salariai multiplicat cu salariul mediu brut) i volumul
produciei realizate (formul echivalent cu raportul
dintre salariul mediu brut i productivitate) [3].
Costul unitar al forei de munc poate fi
considerat nu numai cel mai bun indicator de
aproximare a presiunilor inflaioniste din partea
costurilor, dar i indicatorul care reflect
competitivitatea1 prin costul unei economii sau al unui
grup de ri.
Exist variaii metodologice cu privire la
calculul ULC, ns, sensul economic al indicatorului
respectiv rezult din meninerea corelaiei adecvate
ntre creterea salariilor i productivitii muncii.
ULC1 = costurile nominale pentru un
salariat/productivitatea real
Ecuaia respectiv se utilizeaz de majoritatea
instituiilor internaionale (Banca Central European,
Comisia European, Organizaia pentru Cooperarea
Economic i Dezvoltare). Costul unitar al forei de
munc, calculat prin aceast metod, subliniaz
impactul salariilor asupra competitivitii, prin pre
sau prin cost, a unei economii, n raport cu principalii
ei competitori pe pieele internaionale.
Analiza costurilor unitare nominale al forei de
munc, n corespundere cu indicele preurilor, d
posibilitatea identificrii msurii n care dinamica
costurilor unitare curente reflect evoluia preurilor n
perioada respectiv. n cazul n care creterea preurilor
este mai mic dect creterea costurilor, putem spune c
are loc absorbia incomplet a majorrii salariilor n
preuri, ce poate indica survenirea presiunilor
inflaioniste, precum i erodarea competitivitii
produselor autohtone pe pieele internaionale.
ULC2 = costurile reale pentru un
salariat/productivitatea real
Conceptul de mai sus se realizeaz prin
transformarea seriilor nominale n reale, eliminnd
influena preurilor. Costul unitar al muncii, n termeni
reali, msoar salariile reale n raport cu
productivitatea muncii, mai exact (adic ponderea
veniturilor din munc) indicnd tendinele presiunilor
inflaioniste: de cretere sau de scdere.
Dac ritmul de cretere al productivitii este
mai rapid dect ritmul de cretere al salariilor, atunci
The economic concept of unit labour costs

Unit labour costs can be considered as an
indicator of labour market pressures, and an indicator
describing costs competitiveness of the economy; it is
the costs of labour required to produce one of unit of
output and it is calculated as the ratio between wages
bill (number of employees multiplied by average
wages) and the volume of production (formula is
equivalent to the ratio between the average wages and
productivity) [3].
The unit labour costs can be considered not only
as the best proxy indicator of inflationary pressures by
cost-push side, but also as an indicator that reflects
assessing an economys competitiveness1, or for a
group of countries.
There are variations of the calculation
methodology of ULC, but the economic sense of the
indicator results from maintaining adequate correlation
between wages and labour productivity growth.
ULC= total nominal compensation per
employee/real labour productivity
This equation is used by the majority of foreign
institutions (European Central Bank, European
Commission, Organization for Economic Co-operation
and Development).
Unit labour costs, calculated by this method,
highlight the impact of wages on the price or costs
competitiveness of an economy in relation to its main
competitors in international markets.
Analysis of nominal unit labour costs in
correspondence with price index, gives the
possibility to ascertain to which extent of the
development of nominal labour costs per employee
through the development of inflation within a given
period. In case there the growth in the average CPI
is lower than the growth in ULC, this means that
real ULC increases and we can speak of an
accumulation of wage growth unabsorbed by price
development, which may subsequently indicate the
emergence of inflationary pressures and erodes
competitive advantage of local products to
international markets.
ULC= total real compensation per employee/real
labour productivity
This concept of calculation is achieved if
nominal workforce costs are adjusted of price
influences in the given period. Unit labour costs in real
terms, measured as real wages relative to labour
productivity, (i.e. share of labour income) indicates
whether price pressures have a tendency to grow or to
fall.
If compensations per employee are
growing, but productivity is growing faster, then
Cursul real de schimb efectiv (engl. Real Efective Exchange Rate REER), calculat pe baza costurilor unitare
ale forei de munc, ne permite evidenierea competitivitii internaionale a unor astfel de transformri, care sunt
create n economia naional (ex. creterea sau scderea productivitii i evoluia salariilor), precum i a
evoluiilor care survin de la nivel internaional (ex. dinamica cursului nominal efectiv de schimb) [4].
95
RULC1 se diminueaz, i proporia cost-inflaie este

echilibrat, iar riscul unor presiuni asupra preurilor
din partea costurilor salariale, pe termen scurt i
mediu, fiind redus. Majorarea RULC poate fi
considerat o surs posibil a presiunilor inflaioniste
viitoare, mai ales n condiiile meninerii gradului nalt
al persistenei altor factori inflaioniti.
Aspecte statistice ale costului unitar al forei
de munc i componentelor lui
Chiar i n cazul utilizrii aceleiai metode de
calculul, nivelul ULC poate s fie diferit, n funcie de
sursele datelor statistice. Pentru calcularea ULC, pot fi
folosite datele din Sistemul Conturilor Naionale cu
frecven anual (ca parte a contului de exploatare)
(figura 1) sau informaia din buletinele statistice cu
frecven trimestrial.
30
25
20
15
10
5
0
-5 1996
-10
-15
-20
-25
-30
1998
2000
2002
RULC 1 will decline and the proportion of costinflation is balanced, there is a risk of price
pressure from labour costs in the short and
medium term is reduced. Increases of RULC can
be considered as a possible source of future
inflationary pressures, especially in maintaining the
high degree of persistence of others inflation factors.
The statistical aspects of the unit lab or cost
and its components
Even in the case of using the same methods of
calculation, the actual level of ULC may differ
depending on the input data sources used. For ULC
calculation can be used data from the national account
annual frequency (as part of the operating account)
(figure 1) or information from statistical bulletins with
quarterly frequency.
2004
2006
2008
2010
2012
Producivitatea muncii/Labour productivity

Ctigul mediu salarial/Compensation per employee
Costul unitar al forei de munc/Unit labour cost
Figura 1. Ctigul mediu per salariat, productivitatea muncii, costul unitar al forei de munc pe
economie (%, an fa de an) / Figure 1. Compensation per employee, labour productivity, unit labour
costs in the whole economy (%, year-on-year growth)
Sursa: date primare BNS, calcule de autor / Source: prime date NBS, calculated by author
Pe parcursul anilor 1996-2013, comportamentul
variabilelor analizate, la nivelul economiei, n ansamblu, a
avut un caracter fluctuant (figura 1). Cea mai semnificativ
scdere a ULC a fost nregistrat n anul 1999. Acest
declin a survenit ca urmare a crizei financiare din Rusia,
reflectat n nivelul nalt al inflaiei, n perioada 1998-1999,
n Republica Moldova. Perioada respectiv a fost
caracterizat de stoparea creterii salariilor i limitarea
puterii de cumprare a consumului final al gospodriilor,
ce a adus la diminuarea deficitului balanei comerciale.
n perioada 2000-2003, n condiiile creterii
culminante a salariului mediu real, precum i a
productivitii muncii, ULC a crescut brusc, ns fr
apariia presiunilor inflaioniste2. De menionat c, n
anul 2003, s-a nregistrat cel mai nalt nivel al
productivitii muncii din toat perioada analizat, la
nivelul ntregii economii. Urmtorii doi ani s-au
During the 1996-2013, the behaviour of the

variables analysed in the whole economy, had a
fluctuating character (figure 1). The most
significant decrease of ULC was registered in
1999. This decline occurred as a result of the
Russian financial crisis, reflected in the high level
of inflation in 1998-1999 in Moldova. This period
was characterized by stopping the growth in
wages and limiting the purchasing power of final
households consumption, which in turn led to a
decrease in the trade balance deficit.
In 2000-2003, in terms of growth of wages
and
labour
productivity,
ULC
increased
significantly, but without causing inflationary
pressures 2. Note that in 2003 there has been
reflected the highest level of labour productivity
growth for the whole period. The next two years
RULC costul unitar al forei de munc real

n anul 2002, s-a consemnat cea mai mic rat a inflaiei, pn la anul de criz 4.4 la sut
96
caracterizat printr-un ritm nalt de cretere a salariilor,

care l-a depit pe cel al productivitii i, ca rezultat,
ULC s-a poziionat n jurul valorii nule.
n 2006-2008, productivitatea muncii msurat
la nivelul ntregii economii a fost depit de
majorrile salariale, aceasta s-a caracterizat prin
amplasarea valorilor ULC pe banda pozitiv. Tendina
respectiv s-a evideniat i mai clar, n anul 2009, pe
seama creterii excesive a salariilor n raport cu
creterile productivitii muncii. Perioada ciclului de
recuperare economic, n 2010-2011, s-a remarcat prin
tendina de meninere a proporiei dintre creterea
productivitii muncii i a cheltuielilor salariale.
Anul 2012 s-a caracterizat prin schimbarea
direciei raportului dintre creterea productivitii
muncii i a salariului mediu real fa de perioada
precedent, ULC s-a deplasat spre valorile pozitive,
din cauza diminurii volumului produciei fabricate.
La nivel anual, sistemul costurilor naionale
face posibil evaluarea mai corect a ULC, cu luarea
n considerare a tuturor costurilor cu fora de munc
[5], ns un decalaj mare la accesul de informaii duce
la rezumarea analizei acestui indicator, la nivelul
sectorului industrial al economiei1.
were characterized by a high rate of wage growth

that exceeded productivity growth, and as a result
ULC positioned around zero.
In 2006-2008, labour productivity exceeded
the wage growth; this was characterized by placing
values on the positive ULC. This trend was
highlighted more clearly in 2009 on account of
excessive wage growth relative to labour
productivity growth. Cycle of recovery, during
2010-2011 was observed a tendency of maintaining
the proportion of labour productivity growth and
wage costs.
The year 2012 was characterized by
changing the direction of the relationship
between labour productivity growth and real
wage growth, in the previous period ULC has
shifted to positive values, by reason of reducing
production volume.
Annual date, according ESA95 makes possible
to estimate of ULC more exactly, taking into
account all labour costs [5], but a large gap in access
to statistics information leads to summarize the
analysis of this indicator to the industrial sector of
economy1.
Figura 2. Ctigul mediu per salariat, productivitatea muncii, costul unitar al forei de munc n industrie
(%, an fa de an) / Figure 2.Compensation per employee, labour productivity, unit labour costs in
industry (%, year-on-year growth)
ncepnd cu trimestrul I, 2013 (figura 2),
consolidarea ctigurilor din productivitatea muncii a
determinat meninerea unei dinamici negative a costurilor
unitare cu fora de munc, n pofida accelerrii uoare a
ritmului de cretere a salariului mediu brut din sectorul
industrial. n aa fel, productivitatea muncii la nivelul
industriei nu a fost depit de creterile salariale. n plus,
meninerea raportului respectiv a fost susinut i de
tendinele de depreciere a monedei naionale (figura 3),
facilitnd avantajul competitiv al produselor de export
(precum i reexport). Totodat, pe parcursul primelor trei
trimestre ale anului 2014, ULC s-a plasat n palierul pozitiv
sau n aproximare de valoarea nul, din cauza diminurii
1
Since the first quarter of 2013 (figure 2)

labour productivity gains determined a negative
dynamic of unit labour costs in spite of acceleration
in the growth rate of wages in industry. Thus, the
labour productivity in industry was not exceeded
salary growth. In addition, maintaining that ration
was supported by the tendency of depreciation of the
national currency (figure 3), facilitating competitive
advantage for exports (and re-export). However,
during the first three quarters of 2014 ULC placed in
positive limits or approximation of the null value,
due to the decrease rate of output growth to wage
increases. I have to mention that the price growth
n cazul dat, sursa de baz a datelor statistice sunt buletinele statistice lunare, trimestriale publicate de BNS
97
ritmului de cretere a produciei fa de creterile salariale.

De menionat, c creterea preurilor de producie a depito pe cea a costurilor unitare ale forei de munc aproape pe
toata perioada de analiz (figura 3), care reprezint un semn
bun n sensul lipsei pericolului inflaiei din partea costurilor.
advanced unit labour costs growth almost the entire

period of analysis (figure 3), which is a good sign
for the purposes of the lack of cost-push inflation
pressures.
Figura 3. Dinamica RULC n coresponden cu dinamica IPPI /

Figure 3. Dynamics of RULC in corespundering with IPPI
Concluzii. Lucrarea de fa arat c, indiferent
de metodologia de calcul al ULC aleas (n termeni
nominali sau reali), acesta are la baz dou aspecte
importante. Primul se axeaz pe capacitatea de
aproximare a indicatorului ULC al presiunilor
inflaioniste viitoare din partea costurilor, iar al doilea
reflect tendina competitivitii produciei autohtone
prin cost pe pieele internaionale.
Analiza statistic descriptiv a demonstrat c
aproape pe ntreg intervalul prezentat, ncepnd cu
anul 1996 pn n prezent, ctigurile din
productivitate nu au fost depite semnificativ de
ctigurile salariale, exercitnd efecte nefavorabile
majore asupra stabilitii preurilor, precum i asupra
erodrii concurenei produselor autohtone. Aceast
tendin se vede att din analiza datelor anuale din
Sistemul Conturilor Naionale la nivelul ntregii
economii, ct i la nivelul sectorului industrial cu
frecvena trimestrial.
n acelai timp, evoluia costului unitar al forei de
munc, n raport cu preurile din industrie, nu denot o
interaciune cauzal vizibil clar pe parcursul perioadei
analizate. Acest fapt poate s fie explicat prin persistena
inflaiei, n special, pe termen scurt, care depinde de mai
muli factori ce limiteaz1 sau compenseaz2 transmisia
complet a impactului costurilor respectiv n preuri. Dar
concluziile mai consistente necesit aplicabilitatea aparatului
Conclusions. This paper shows that no matter

of the ULC calculation methodology chosen (in
nominal or real terms), ULC is based on two important
aspects. The first focuses on the capacity of
approximating the ULC indicator of future inflationary
pressures from the cost-push side and the second helps
to identify possible changes in a countrys
competitiveness in international markets.
Descriptive statistical analysis showed that
almost the entire period presented, since 1996 until
now productivity gains were not significantly exceeded
the wages growth, exercising major adverse effects on
price stability and erosion competition on domestic
products. These tendency can be seen both on annual
data from National System Accounts in the whole
economy, as well as in the industrial date sector from
quarterly frequency.
At the same time, the comparison of the unit
labour cost development with the development of
prices in the industry didnt show a clearly visible
causal interaction during the period. This can be
explained by the persistence of inflation, especially in
the short term, which depends on several factors
limiting1 or compensating2 the transmission of full
impact of costs to the prices. But most consistent
conclusion requires the applicability of econometric
device and inclusion of ULC in the model of the
Ponderea relativ mic a sectorului respectiv n produsul intern brut

Legtura dintre ULC i NEER este mai evident i, respective, exercit un impact mai semnificativ asupra
costului unitar al forei de munc
98
econometric cu includerea indicatorului respectiv n cadrul

modelului Curbei Phillips1. Aceasta reiese din condiiile de
realizare a obiectivului de asigurare i meninere a stabilitii
preurilor2, precum i n urma semnrii Acordului de Asociere
UE Republica Moldova, anticipndu-se integrarea intensiv
a Republicii Moldova n comerul internaional.
1.
2.
3.
4.
5.
6.
7.
8.
Phillips curve1. It emerged in terms to realize the

objective of ensuring and maintaining price
stability2, and after signing the Association
Agreement EU Moldova, anticipating an
intensive integration of Republic of Moldova in
international trade.
Bibliografie/ Bibliography:
DEDU Vasile, DUMITRESCU Bogdan Andrei. Underlying factors of persistent inflation in Romania.
Annales Universitatis Apulensis Series Oeconomica, 11(1), 2009
BRAUER David A.. Do Rising labour costs Trigger Higher Inflation? Current Issues in Economics and
Finance, Volume 3, Number 11. Federal Reserve Bank of New York
Glosar, intirea direct a inflaiei. Banca Naional a Romniei
Trade and development report, 2004. UNITED NATIONS, New York and Geneva, 2004
Prognoza costului unitar al forei de munc, Comisia Naional de Prognoz.
Barometrul productivitii muncii, Fondul Social European prin Programul Operaional Sectorial
Dezvoltarea Resurselor Umane 2007-2013
Strategia politicii monetare a Bncii Naionale a Moldovei pentru 2010-2012 (modificat prin Hotrrea
Consiliului de administraie al Bncii Naionale a Moldovei nr.267 din 30.12.2010, n vigoare din
01.01.2011)
https://www.euro-area-statistics.org/competitiveness-indicators?cr=eur&lg=ro
Dup varianta curbei descrise de Gordon (1982,1985) , Stockton i Glassman (1987)

Obiectivul fundamental al BNM stipulat prin Strategia Politicii Monetare a Bncii Naionale a Moldovei
asigurarea i meninerea stabilitii preurilor la nivel de 5.0 la sut cu o posibil deviere de 1.5 puncte
procentuale.
2
99
ESTIMAREA EFICIENEI
CHELTUIELILOR CU EDUCAIA
TERIAR N RILE UE
Drd. Raluca-Mariana DRGOESCU,
ASE Bucureti
Drd. Ioana-Maria BUCERZAN (PRECUP),
ASE Bucureti
Drd. Ramona BERE (SILVESTRU),
ASE Bucureti
Calculul eficienei cheltuielilor cu educaia este
un subiect actual n cercetarea economic. n acest
articol, ne propunem s estimm eficiena relativ a
cheltuielilor cu educaia teriar pentru rile membre
UE, folosind, n acest scop, metoda DEA (Data
Envelopment Analysis), care este o metod nonparametric provenit din programarea liniar. Drept
variabile de intrare, am recurs la cheltuielile publice cu
educaia per student (nivel ISCED 5 i 6), exprimate n
termeni PPS, iar ca output am utilizat numrul total al
absolvenilor la 1000 de persoane cu vrsta cuprins
ntre 20 i 29 de ani. Rezultatele obinute denot c
frontiera de eficien este format din Bulgaria,
Romnia i Polonia, ri n care se nregistreaz cele
mai mici cheltuieli per student la nivelul UE.
Cuvinte-cheie: educaie teriar, cheltuieli
publice, DEA
JEL: C15
Introducere. n acest articol, ne propunem s
estimm eficiena cheltuielilor publice cu educaia
teriar pentru rile membre UE. Msurarea eficienei
cheltuielilor publice cu educaia este dificil, indiferent
dac se utilizeaz metode parametrice sau nonparametrice. Studiile efectuate pn acum la nivel
internaional folosesc metode specifice estimrii
eficienei unei ntreprinderi: metoda DEA (Data
Envelopment Analysis) (Charnes et al., 1978;
Emrouznejad et al., 2008), o metod non-parametric
bazat pe modele din programarea liniar, o variant a
acesteia metoda FDH (Free Disposal Hull) (Leleu,
2006) sau tehnica SFA (Stochastic Frontier Analysis)
(Aigner et al., 1977), care se bazeaz pe metoda
verosimilitii maxime, fiind o metod parametric.
Toate aceste metode s-au dovedit dificile de aplicat n
practic (Grigoli, 2014). n cadrul DEA, prezint
dificultate ncorporarea unui numr mare de variabile
explicative
(input-uri),
datorit
complexitii
computeriale a metodei. Studiile care folosesc aceast
metod utilizeaz, de regul, o singur variabil input,
anume cheltuielile publice cu educaia. Spre deosebire de
DEA, metoda SFA poate ncorpora mai multe input-uri,
ns, practica arat c este dificil de aplicat din cauza
corelaiei foarte slabe (din punct de vedere statistic), care
100
ESTIMATING THE
EFFICINENCY OF TERTIARY
EDUCATION EXPENDITURE IN
EU COUNTRIES
PhD student Raluca-Mariana DRAGOESCU,
PhD student Ioan-Maria BUCERZAN (PRECUP),
PhD student Ramona BERE (SILVESTRU),
Bucharest University of Economic Studies
Determining the efficiency of public spending
on education is a current topic in economic research.
Hence, in this article we aim to estimate the relative
efficiency of public spending on tertiary education
within the EU member states. For this purpose we use
the DEA method (Data Envelopment Analysis) which is
a non-parametric method derived from linear
programming. The input variable used is public
spending on education per student (level ISCED 5 and
6) expressed in PPS (CHELT variable), and as output
variable we considered the total number of graduates
per 1000 persons age 20 to 29 years. The results show
that Bulgaria, Romania and Poland represent the
efficiency frontier, countries for which the lowest
expenditures per student are recorded.
Key words: tertiary education, public expenditure,
DEA
JEL: C15
Introduction. In this article we aim to estimate
the efficiency of public expenditure on tertiary
education for EU member states. Measuring the
efficiency of public expenditure on education is
difficult, whether parametric or non-parametric
methods are used. Studies conducted so far at
international level use specific methods for estimating
the efficiency at company level: DEA method (Data
Envelopment Analysis) (Charnes et al., 1978;
Emrouznejad et al., 2008) which is a non-parametric
method grounded in linear programming, FDH method
a method derived from the former one (Free Disposal
Hull) (Leleu, 2006) or SFA technique (Stochastic
Frontier Analysis) (Aigner et al., 1977) which is based
on the maximum likelihood method, being a parametric
method. All this methods have proven to be difficult to
apply in practice (Grigoli, 2014). Due to the
computational complexity of the method, using the
DEA method is difficult to embed a large number of
explanatory variables (inputs). Studies using this
method typlically include one input variable, in
particular the public expenditures on education. In
contrast to the DEA method, the SFA technique may
include more inputs, however practice shows that it is
difficult to apply this method due to the weak
exist ntre cheltuielile publice cu educaia i rezultatele

sistemului educaional (Grigoli, 2012).
La momentul actual, exist o serie de studii care
au ncercat s estimeze eficiena cheltuielilor publice cu
educaia la nivel internaional. Gupta i Verhoveen
(2006) estimeaz eficiena cheltuielilor publice cu
educaia i sntatea, utiliznd tehnica FDH. Pentru
educaie, autorii au folosit drept variabil input
cheltuielile publice cu educaia exprimate n PPP, iar ca
rezultat (output) al sistemului educaional au utilizat
ratele brute de cuprindere n educaia primar i
secundar. ncercarea de a introduce n model i PIB-ul
per capita a condus la scderea influenei cheltuielilor
publice cu educaia asupra rezultatelor (output-ului)
sistemului educaional datorit coliniaritii acestor dou
variabile. Rezultatele obinute de autori au artat c rile
de pe continentul african au o eficien mult mai redus a
cheltuielilor cu educaia, comparativ cu rile asiatice sau
vest-europene. Herrera i Pang (2005) estimeaz, de
asemenea, eficiena cheltuielilor publice cu educaia i
sntatea pentru un grup de 140 de ri n curs de
dezvoltare, n perioada 1996-2002, recurgnd la o
versiune a metodei DEA. Drept input se folosete
variabila care exprim cheltuielile publice cu educaia,
output-urile sistemului educaional fiind msurate prin
rata brut de cuprindere i absolvire n educaia primar.
Rezultatele obinute indic faptul c rile mai bogate
tind s aib o eficien mai sczut a cheltuielilor publice
cu educaia. La nivel european, Grigoli (2014) estimeaz
eficiena cheltuielilor cu educaia, folosind tehnica DEA
cu suma cheltuielilor publice cu educaia per elev, n
nvmntul primar i secundar, exprimat n PPP drept
variabil input i rezultatele la testele PISA drept
variabil de rezultat (output). Estimrile eficienei au fost
realizate pe dou perioade distincte, 2000-2004 i 20052009, msurnd eficiena n termenele n care o ar
poate utiliza input-urile pentru obinerea aceluiai nivel
de output. Rezultatele obinute de autori demonstreaz c
Finlanda, Polonia, Slovacia i Romnia sunt rile cu
eficiena cea mai bun a cheltuielilor cu educaia primar
i secundar, n perioada 2000-2004 (dei Romnia a
avut cele mai mici cheltuieli cu educaia primar dintre
rile membre UE n perioada analizat), iar n perioada
2005-2009, rile cu cea mai bun eficien au fost
Finlanda, Cehia, Slovacia i Romnia.
Aceeai metod DEA este folosit de Greene
(2005) pentru evaluarea eficienei cheltuielilor publice cu
educaia i sntatea. Variabilele dependente, luate n
considerare de autor, au fost: ratele brute i nete de
cuprindere n educaia primar i secundar, rata de
alfabetizare a populaiei tinere, ratele de absolvire a
educaiei primare i secundare i numrul mediu de ani
de coal; n timp ce variabilele independente au fost:
cheltuielile cu educaia, raportul dintre numrul de
profesori i elevi i rata de alfabetizare a populaiei
adulte. Autorul folosete valoarea medie a variabilelor
considerate pe dou perioade, 1975-1995 i 1996-2002 i
arat c variabilele cu impactul cel mai mare asupra
correlation ( from statistical point of view) between

public expenditure on education and the outcomes of
the educational system (Grigoli, 2012).
Currently, there is a number of studies which
tried to estimate the efficiency of public expenditure on
education at international level. Using the FDH
technique, Gupta and Verhoveen (2006) estimate the
efficiency of public expenditure on education and
health. The authors used as a proxy for education and
as the input variables the public expenditures on
education expressed in PPP, and the gross enrolment
rates in primary and secondary education as a result
(output) of the educational system. The attempt to
include in the model the GDP per capita has led to a
decrease of the influence of public expenditure on
education on the output of the educational system, due
to coliniarity. The results of the study have shown that
African countries have a lower efficiency of the
expenditures on education, compared to Asian or WestEuropean countries. Likewise, using a version of the
DEA method, Herrera and Pang (2005) estimate the
efficiency of public expenditures on education and
health for a group of 140 developing countries for the
timespan 1996-2002. The input variable is represented
by the public expenditures on education, while the
outputs of the educational system are measured by the
gross enrolment and graduation rate in primary
education. The results indicate that richer countries
tend to have a lower efficiency of public expenditure
on education. Grigoli (2014) estimates the efficiency
of expenditure on education at European level, using
the DEA technique and having as input variable the
sum of public expenditure on education per student in
primary and secondary education, expressed in PPP,
and as output variable the results at the PISA tests. The
analysis has been done for two period of time, one
form 2000 to 2004 and one from 2005 to 2009,
focusing in measuring the efficiency in terms of how
much can a country use the given inputs for achieving
the same level of output. The results show that Finland,
Poland, Slovakia and Romania have the best efficiency
of expenditures on primary and secondary education
during 2000-2004 (although, within this timeframe,
Romania has had the lowest expenditures on primary
education compared to the other EU countries), and for
the time period 2005 to 2009, the countries with the
highest efficiency have been Finland, Czech Republic,
Slovakia and Romania.
The same DEA method is used by Greene
(2005) for analysing the efficiency of public
expenditure on education and health. The dependent
variables considered by the author are the gross and net
enrolment rates in primary and secondary education,
the literacy rate of young population, the graduation
rate of primary and secondary education and the
average number of schooling years, while the
independent variables used are expenditure on
education, the ratio between the number of teachers
101
rezultatelor sistemului educaional l constituie rata de

alfabetizare a populaiei adulte i raportul dintre numrul
de profesori i elevi, iar influena cheltuielilor cu educaia
este nesemnificativ din punct de vedere statistic.
Metodologia utilizat. Conceptul-cheie al
metodei DEA const n noiunea de suprafa de
acoperire i proiecia eficient pe aceast suprafa.
Proiecia pe suprafaa de acoperire este determinat de
tipul modelului: orientat ctre rezultat, adic se urmrete
maximizarea rezultatului fiind date nivelele input-urilor
sau orientat ctre input-uri, adic ncercndu-se
minimalizarea utilizrii input-urilor pentru producerea
unui output dat. Modelele orientate ctre input-uri sunt
cele mai adecvate pentru analiza eficienei cheltuielilor
cu educaia.
DEA este o tehnic bazat pe programarea liniar
care estimeaz eficiena relativ a unor entiti n
condiiile existenei mai multor input-uri i a mai multor
output-uri, ceea ce face ca operaia de comparare a
respectivelor entiti s fie dificil.
Aceasta este o tehnic care se folosete n diverse
domenii, precum managementul, marketingul, finanele.
DEA permite compararea i ordonarea unor entiti, cum
ar fi unitile de producie, depozitele, salariaii etc., pe
baza unor caracteristici ale lor, fr a face nicio ipotez
referitoare la importana relativ a acestor caracteristici,
fiind folosit prima dat pentru a compara productivitatea
unor ageni economici.
Metoda DEA presupune c toate variabilele, care
intr n calcul, sunt mrimi pozitive i c se pot forma
combinaii liniare ale acestora cu ajutorul unor ponderi
(care sunt valori nenegative), iar eficiena fiecrei entiti
se poate exprima ca raportul dintre combinaiile liniare
ale output-urilor i ale input-urilor. Algoritmul DEA
maximizeaz acest raport pentru fiecare entitate n parte,
calculnd ponderile care conduc la valoarea maxim a
raportului i, n acelai timp, se asigur c, dac folosim
aceste ponderi pentru celelalte entiti, eficiena lor nu va
fi mai mare dect 1. Prin urmare, se calculeaz ponderile
care maximizeaz raportul output/input pentru o entitate,
ns, n aceste condiii, raportul calculat pentru celelalte
entiti trebuie s nu depeasc valoarea 1, adic
celelalte entiti s nu aib o eficien mai mare de 100%.
Dup ce se calculeaz ponderile care maximizeaz acest
raport pentru toate entitile, valoarea raportului este
folosit pentru a compara ntre ele entitile.
Notnd cu n numrul entitilor, cu
variabilele de tip input pentru
entitatea j, m fiind numrul input-urilor i cu
variabilele output pentru entitatea j, s
fiind numrul output-urilor, putem defini eficiena
entitii j astfel:
and students and the adult literacy rate. Using the mean
value of the variables considered for two time periods,
1975-1995 and 1996-2002, the author shows that the
strongest impact on the results of the educational
system are the variables referring to the adult literacy
rate and the ratio between the number of teachers and
students, while the influence of the expenditures on
education are not statistically significant.
Methodology. The key concept of the DEA
method represents the surface area and efficient
projection on this area. The projection on the surface
are is determined by the model type: result-oriented,
i.e. trying to maximize the results given the input
levels, or inputs-oriented, i.e. trying to minimize the
use of the inputs for achieving a given output. The
inputs-oriented models are more appropriate for
analysing the efficiency of expenditures on education.
DEA is linear programming based technique,
which estimates the relative efficiency of entities given
the existence of several inputs and several outputs,
which makes the comparison of those entities difficult.
This is a technique used in various fields such as
management, marketing, finance. DEA allows
comparison and ordering of entities, such as production
units, warehouses, employees, etc., on the basis of their
characteristics, without making any hypothesis on the
relative importance of those characteristics, being first
used to compare the productivity of companies.
The DEA method assumes that all variables
which are considered have positive values, linear
combinations of these values, using weights (which are
non-negative values) can be computed, and the
efficiency of each entity can be expressed as a ratio
between the linear combinations of outputs and inputs.
The DEA algorithm maximizes this ratio for each
entity by determining the weights that lead to
maximizing the value of the ratio and simultaneously
ensures that if these weights are used for other entities,
their efficiency will not be greater than 1. Hence, the
weights which maximize the output/input ratio are
computed for an entity, however taking into account
that the ration for the other entities is not greater than
1, namely the other entities will not have efficiency
greater than 100%. After computing the weights that
maximize this ratio for all entities, the ratio value is
used to compare each entity with the others.
Let n be the number of entities, and
the input variables for entity j, m
being the number of inputs and
the
output variables for entity j, s being the number of
outputs. The efficiency of entity j can be defined as
follows:
unde u i v sunt ponderile asociate fiecrei variabile

output, respectiv input ale entitii j. Problema calculrii
where u and v are the weights associated with each of

the output, respectively input variable of entity j. The
problem of computing the weighs that maximize the
102
ponderilor care maximizeaz eficiena entitii j, poate fi

definit astfel:
efficiency of entity j cab be defined as:
with the condition that

cu condiia ca
pentru fiecare entitate i=1...n
i
Pentru a rezolva aceast problem, o vom
transpune n forma unei probleme de programare liniar.
Programarea liniar nu admite ca funcia care trebuie
maximizat s fie un raport. Astfel, vom scrie funcia
care trebuie maximizat ntr-o form echivalent,
pornind de la observaia c maximizarea unui raport este
echivalent cu maximizarea numrtorului n condiiile
n care numitorul este meninut constant.
for each entity i=1...n

and
To solve this problem, we will transpose it in
the form of a linear programming problem. Linear
programming does not admit the form of a ratio for the
function which needs to be maximized. Therefore, we
write the function which needs to be maximized in an
equivalent form, based on the observation that
maximizing a ratio is equivalent with maximizing the
numerator under the conditions of constant
denominator.
pentru entitatea i=1...n

Aceast problem de programare liniar trebuie
rezolvat pentru toate entitile i=1...n, iar n urma rezolvrii
ei, va rezulta valoarea ponderilor pentru care eficiena
fiecrei entiti este maxim. Aceste ponderi sunt cele mai
favorabile, privite din punctul de vedere al unei entiti.
Rezolvarea problemei de programare liniar
pentru o entitate va cuta s maximizeze eficiena
entitii respective, iar procedura de calcul se va termina
atunci, cnd, fie eficiena entitii considerate, fie
eficiena altei entiti, va atinge valoarea-limit 1. Astfel,
pentru fiecare unitate ineficient (adic are eficiena
subunitar) exist cel puin o entitate care este eficient.
Aceste entiti eficiente vor forma un grup-pereche al
entitii ineficiente. Soluia final a metodei DEA va crea
o list a eficienei relative pentru fiecare entitate, grup de
entiti-pereche i un set de valori-int pentru ponderile
fiecrei entiti ineficiente (valori care conduc la
eficientizarea entitii respective). Algoritmul DEA nu
face nicio supoziie a priori asupra ponderilor input-urilor
i output-urilor. Dac exist o astfel de informaie, ea
poate fi introdus n problem ca restricie suplimentar.
Exist i cteva limitri ale acestui algoritm, de
care trebuie inut cont cnd l aplicm n practic. DEA
pleac de la ideea de a utiliza combinaii liniare ntre
variabile i a calcula raportul acestor combinaii. Dac
utilizarea unei combinaii liniare nu este posibil, din
cauza naturii problemei pe care o rezolvm, atunci
for entity i=1...n

This problem of linear programming needs to
be solved for all entities i=1...n, and its solution will
result in the values of the weights for which the
efficiency of each entity is maximized. These
weights are most favourable, seen from the
perspective of an entity.
Solving this linear programming problem for an
entity will seek to maximize the efficiency of the
entity, and the computation procedure will end when
the efficiency of the entity of other entities reaches the
limit value of 1. Thus, for each inefficient unit (that has
efficiency below 1) there is at least an entity that is
efficient. These efficient entities will form a pair for
the inefficient entity. The final solution of DEA
method will provide a list of the relative efficiency of
each entity, a pair of entities and a set of target values
of weights for each inefficient entity (values that lead
to a more efficient entity). DEA algorithm makes no a
priori assumption on inputs and outputs weights. If
there is such information, it can be introduced as a
additional constrain.
There are several limitations of this algorithm,
which need to be taken into account when applying it.
DEA is based on the idea of using linear combinations
of variables and computing the ratio between these
combinations. However, if using a linear combination
103
trebuie cutate transformri asupra variabilelor astfel,

nct s aib sens o combinaie liniar a lor. O alt
limitare pleac de la observaia c trebuie rezolvate attea
probleme de programare liniar cte entiti avem. Dac
numrul entitilor este mare, va fi nevoie de resurse de
calcul importante (memorie i putere de procesare). De
asemenea, algoritmul DEA nu poate fi folosit pentru date
cu multe dimensiuni (suma dintre numrul variabilelor
input i output). Dac notm cu
numrul
dimensiunilor datelor i cu n numrul entitilor, atunci,
pentru a putea aplica cu succes DEA, trebuie ndeplinit
. Dac d este apropiat sau chiar mai
condiia:
mare dect n, rezultatele obinute n urma aplicrii DEA
nu vor fi de folos, ntruct aproape toate entitile vor fi
gsite ca fiind eficiente.
n figura 1, este prezentat situaia unui set de
entiti A, B, C, D, E, F, G, care folosesc aceeai cantitate
dintr-o variabil input i produc output-urile
i
.
Pentru aceeai cantitate din input consumat, entitile
care au un output mai mare vor fi mai eficiente.
Aplicarea algoritmului DEA conduce la identificarea
entitilor A, B, C i D ca fiind eficiente, iar acestea
formeaz o anvelop (frontier), n interiorul creia se
gsesc entitile E, F i G care sunt ineficiente. Pentru
entitatea E, grupul-pereche este format din A i B, iar
valorile-int, pentru ponderi care fac ca E s devin
eficient, conduc la punctul E. Dac, de exemplu, nu este
posibil creterea lui
pentru E, atunci poate fi gsit o
nou soluie, E care presupune doar creterea lui .
2
8
is not possible due to the nature of the problem, then

transformation of the variables should be considered so
as to have a significance of their linear combination.
Another limitation derives from the fact that depending
on how many entities we have, so many linear
programming problems must be solved. If the number
of entities is large enough, in this case significant
computing resources will be required (memory and
processing power). Moreover, DEA algorithm cannot
be used for data with many dimensions (defined as the
sum of the number of input and output variables). If we
denote with d = m + s the number of data dimensions
and with n the number of entities, then to successfully
apply DEA the condition: dn needs to be satisfied. If d
is close to or even higher than n, the results will not be
of use, as almost all entities will be found to be
efficient.
Figure 1 shows the case of a set of entities A, B,
C, D, E, F, G which use the same amount of input and
produce the outputs
and
. For the same amount
of input consumed, entities with higher output will be
more efficient. Applying the DEA algorithm leads to
identifying A, B, C and D to be the efficient entities,
which form a border (frontier) inside which are the
inefficient entities E, F and G. For entity E, the pair
group is formed by A and B, and the target values for
the weights that make E efficient lead to E. If, for
example the increase of
is not possible for E, then a
new solution can be found, E, which involves only
the growth of .
A
E
B
C
F
D
Figura 1. Frontiera de eficien / Figure 1. The efficiency frontier

Sursa: elaborat de autori/ Source: developed by author
Seriile de date utilizate. Vom aplica tehnica descris
mai sus pentru a calcula eficiena relativ a cheltuielilor cu
educaia n nvmntul superior din rile UE, folosind drept
variabil input cheltuielile publice cu educaia per student
(nivel ISCED 5 i 6), exprimate n termeni PPS (variabila
CHELT), iar ca output al sistemului de educaie teriar
104
Data. The technique discussed in the previous

section is being applied in order to determine the
relative efficiency of the expenditure on tertiary
education in the EU member states, considering as
input variable the public expenditures on education per
student (ISCED level 5 and 6), expressed in PPS
numrul total al absolvenilor la 1000 de persoane cu vrsta

cuprins ntre 20 i 29 de ani (variabila ABS). PPS
(Purchasing Power Standard) este o unitate valutar
convenional: cu o unitate PPS se poate achiziiona aceeai
cantitate de bunuri (sau servicii) indiferent de ar. Datele
utilizate provin din baza de date Eurostat, iar cel mai recent an
pentru care exist informaii disponibile este anul 2011. Vom
exclude din estimrile noastre Grecia i Luxemburgul, pentru
care nu exist date disponibile. n tabelul 1, sunt prezentate
valorile variabilelor folosite n calcul.
(CHELT variable), and as output of the tertiary

educational system the total number of graduates per
1000 persons age 20 to 29 years (ABS variable).
PPS (Purchasing Power Standard) is a
conventional currency, hence using a unit PPS the
same amount of goods (or services) can be purchased
in any country. The data source is the Eurostat database
and the most recent year for which data is available is
2011. Greece and Luxembourg are not included in the
analysis, as no data is available for these two countries.
Tabelul 1/ Table 1
Valorile variabilelor CHELT i ABS, n anul 2011 /

The values of the CHELT and ABS variable in 2011
ara/ CHELT (PPS) ABS
ara/ CHELT (PPS) ABS
Country
(input)
(output) Country
(input)
(output)
BE
10314.0
76
LI
3968.1
105.1
BU
1951.2
65.3
HU
4852.2
51.1
CZ
5509.5
76.2
MA
8685.1
56.9
DE
16520.2
88.6
NE
12067.9
68.2
GE
12781.5
53
AU
11666.8
59
ES
4356.6
60.5
PL
3418.0
105.9
IR
10177.7
86.9
PO
5375.4
69.9
SP
6455.3
65.9
RO
2530.7
95.4
FR
10203.2
87.1
SL
5579.0
75
CR
3937.4
70.1
SK
4275.6
88.5
IT
6534.3
61.2
FI
10990.9
72.8
CY
13132.8
41.7
SW
12697.8
57.1
LA
3023.4
81.8
UK
8566.0
88.3
Sursa datelor: calculele autorilor dup date Eurostat /

Data source: authors computations based on Eurostat data
n ceea ce privete cheltuielile publice per
student, constatm c cele mai mici sume revin
Bulgariei, Romniei, Letoniei i Lituaniei, iar cele mai
mari sume le regsim n Danemarca, Suedia,
Germania, Olanda.
Numrul absolvenilor prezint valorile cele mai
mari pentru Polonia i Lituania (adic dou dintre rile
cu cheltuielile per student cele mai mici) i cele mai mici
pentru Cipru, Ungaria, Germania, Suedia, ri cu
cheltuieli per student dintre cele mai mari. n general,
rile din fostul bloc socialist cheltuiesc puin cu educaia,
dar au un numr de absolveni foarte mare, n timp ce n
rile dezvoltate, dei cheltuielile cu educaia sunt mari,
numrul absolvenilor este redus.
Rezultate. Pentru calculul eficienei cheltuielilor,
vom utiliza pachetul Benchmarking, din sistemul
software R. Valorile eficienei relative a cheltuielilor cu
educaia, obinute dup aplicarea metodei DEA orientate
ctre input, sunt prezentate n tabelul 2.
In terms of public expenditure per student,

Bulgaria, Romania, Latvia and Lithuania have the lowest
values recorded, while the highest values are registered in
Denmark, Sweden, Germany, and Netherlands. The
highest numbers of graduates are in Poland and Lithuania
(two of the countries with the lowest expenditures per
student) and the smallest number in Cyprus, Hungary,
Germany and Sweden, countries with one of the highest
expenditures per student.
Overall, we find that former communist
countries spend less on education, but have a high
number of graduates, while developed countries spend
large amounts of money on education, although the
number of graduates is low.
Results. For estimating the efficiency of
expenditures we use the Benchmarking package
available in the R software. Table 2 present the values
of the relative efficiency of expenditures on education
derived after applying the input-oriented DEA method.
105
Tabelul 2/ Table 2
Eficiena relativ a finanrii educaiei teriare obinut prin DEA /
Relative efficiency of financing the tertiary education, using DEA method
Eficiena relativ
a cheltuielilor cu educaia /
Relative efficiency of expenditure on education
ara /
Country
ara /
Country
Eficiena relativ
a cheltuielilor
cu educaia /
Relative efficiency
of expenditure on
education
0.84
BE
0.21
LI
BU
1.00
HU
0.40
CZ
0.39
MA
0.22
DE
0.15
NE
0.17
GE
0.15
AU
0.17
ES
0.45
PL
1.00
IR
0.23
PO
0.38
SP
0.30
RO
1.00
FR
0.23
SL
0.38
CR
0.52
SK
0.56
IT
0.30
FI
0.19
CY
0.15
SW
0.15
LA
0.75
UK
0.28
n figura 2, este prezentat frontiera de eficien a

cheltuielilor cu educaia, iar n figura 3, eficiena relativ a
cheltuielilor cu educaia pentru fiecare ar luat n
considerare. Observm c frontiera de eficien este
format de Bulgaria, Romnia i Polonia, cu alte cuvinte,
rile care au cele mai mici cheltuieli per student la nivelul
UE. Dintre rile dezvoltate, cu tradiie n domeniul
educaiei teriare, cele mai apropiate de frontiera de
eficien sunt Marea Britanie, Irlanda i Frana.
100
ABS
80
Pl Li
Ro
La
Bu
60
40
Figure 2 represents the efficiency frontier of

public expenditures on education, while figure 3 the
relative efficiency of expenditures on education by
country. We notice that Bulgaria, Romania and Poland
form the efficiency frontier, hence countries which
have the lowest expenditures per student at European
level. Among developed countries, with tradition in the
field of tertiary education, United Kingdom, Ireland
and France are the closest to the efficiency frontier.
Sk Cz
Sl
Cr Po Sp
It
Es
Hu
UK
Ir
Fr
Ma
Be
Fi
De
Ne
Au Ge Sw
Cy
20
0
5000
10000
CHELT
15000
Figura 2. Frontiera de eficien a cheltuielilor cu educaia teriar, DEA orientat input,

n anul 2011 / Figure 2. Efficiency frontier of expenditures on tertiary education, input-oriented DEA
method, in 2011
Sursa: elaborat de autori / Source: developed by author
106
Rezultatele obinute arat c, n general, eficiena

cheltuielilor cu educaia teriar este mai mare n rile mai puin
dezvoltate ale UE i mai redus n rile dezvoltate. Aceste
rezultate sunt n acord cu alte studii (Grigoli, 2012) efectuate
pentru estimarea eficienei cheltuielilor cu educaia primar i
secundar, studii care arat c Romnia este printre rile care
folosete cel mai eficient alocrile de fonduri publice pentru
educaie. Explicaia provine din faptul c, la nivel de input,
cheltuielile cu educaia sunt foarte mici, n special, datorit
salariilor foarte mici din sistemul educaional, n timp ce, dup
1990, numrul absolvenilor s-a meninut la valori ridicate
datorit creterii spectaculoase a numrului de studeni.
Aceste rezultate trebuie privite ns cu circumspecie,
ntruct exist i alte output-uri ale sistemului educaional,
cum ar fi calitatea educaiei sau competenele dobndite n
timpul studiilor, care permit plasarea absolvenilor pe piaa
muncii i care nu au fost luate n considerare. Output-ul
sistemului educaional, aa cum a fost definit el aici, este
influenat i de ali factori care nu au fost luai n calcul.
Eficiena crescut n ri, precum Romnia, Bulgaria, Polonia,
Lituania, Letonia, provine doar din faptul c accesul la
educaia teriar a devenit foarte facil dup 1990, fapt ce a
condus la creterea masiv a numrului de studeni n timp ce
cheltuielile educaionale nu au crescut n aceeai proporie,
nvmntul superior fiind, n mod constant, subfinanat.
Din figura 3, se poate observa cu uurin c, n partea
stng, sus (eficien mare, cheltuieli mici), se afl majoritatea
rilor din fostul bloc socialist, n timp ce, n partea dreapt,
jos, se afl majoritatea rilor dezvoltate ale UE (cheltuieli
mari, eficien redus). Dei eficiena relativ a cheltuielilor cu
educaia nregistreaz valori foarte mari n fostele ri
socialiste, acest lucru nu trebuie analizat separat de alte
aspecte ale sistemului educaional.
1.0
Efficiency
0.8
0.6
0.4
Bu
The results show that the efficiency of expenditures on

tertiary education is in generally higher in less developed EU
countries and lower in developed countries. These results are
consistent with other studies (Grigoli, 2012) dealing with
efficiency estimation of expenditure on primary and secondary
education, studies which reveal that Romania is among those
countries using most efficient the public funds for education.
One reason for this outcome is the fact that, at input level, the
public expenditures on education are low, especially due to low
wages corresponding to the educational system, although after
1990 the number of graduates recorded high values as a result
of a remarkable growth in the number of students.
However, these results should be viewed with great
caution, since other outputs of the educational system, such as
quality of education or competences acquired during the
studies which allow the insertion of graduates into the labour
market, have not been taken into consideration. Thus, the
output of the educational system, as defined in the present
study, is influenced also by other factors not taken into account.
In countries like Romania, Bulgaria, Poland, Lithuania and
Latvia, the increased efficiency derives from the more facile
access to tertiary education after 1990, which determined a
massive increase in the number of students, more pronounced
compared to the expenditures on education, tertiary education
being constantly underfinanced.
According to the data in figure 3, most former socialist
countries have high efficiency and low level of expenditures
(upper-left part of figure 3), while most developed EU
countries have low efficiency and high level of expenditures (
lower-right part of Figure 3). Although the relative efficiency
of public expenditures on education records high levels in
former socialist countries, other aspects of the educational
system should be considered within such analysis.
Ro Pl
Li
La
Sk
Cr
Es Cz
Sl
Hu Po
0.2
5000
It
Sp
UK Fr Ir
Be Fi Au Ne
Ma
SwGe
Cy
10000
De
15000
CHELT
Figura 3. Eficiena cheltuielilor cu educaia teriar, 2011 /
Figure 3. Efficiency of expenditures on tertiary education, in 2011
107
Relund calculele, ns, de data aceasta, folosim un

algoritm DEA orientat ctre output (input-ul este considerat
fix i se exploreaz posibilitatea maximizrii output-ului), i
obinem frontiera de eficien din figura 4.
Pl Li
ABS
100
Ro
La
80
Bu
60
Applying the output-oriented DEA algorithm

(the input being considered as constant and focusing on
the possibility of maximizing the output), the
efficiency frontier in Figure 4 is obtained.
Sk
UK
Cz
Sl
Cr
Po
Sp
It
Hu
Fr
BeFi
Ma
40
Ne
Au Sw
Ge
Cy
20
0
5000
10000
15000
CHELT
Figura 4. Frontiera de eficien a cheltuielilor cu educaia teriar, DEA orientat output, 2011 /
Figure 4. Efficiency frontier of expenditure on tertiary education, output-oriented DEA method, in 2011
n acest caz, frontiera de eficien este format
din Polonia, Lituania, Frana, Olanda, Suedia,
Germania i Cipru. Cu alte cuvinte, aceste ri obin o
eficien maxim, n sensul unui output optim, n
cazul meninerii fixe a cheltuielilor per student.
Introducnd o nou variabil input, raportul
dintre numrul studenilor i cel al cadrelor didactice
(variabila RSC), care, uneori, identific utilizarea n
exces a unei resurse, am reluat calculul eficienei
relative i am obinut valorile prezentate n tabelul 3.
Am exclus din calcule o serie de ri, precum Grecia,
Irlanda, Danemarca, Luxemburg i Estonia, pentru
care nu sunt date disponibile.
De aceast dat, eficiena maxim se
nregistreaz pentru Bulgaria, Germania, Croaia,
Lituania, Polonia i Romnia.
In this case, the efficiency frontier is formed by

Poland, Lithuania, France, Netherlands, Sweden,
Germany and Cyprus. In other words, these countries
achieve maximum efficiency in terms of an optimal
output considering the expenditures per student
constant.
Including another input variable, the ratio
between the number of students and teachers (RSC
variable), which sometimes identifies excessive use of
a resource; we estimate the relative efficiency and
obtain the values presented in table 3. Greece, Ireland,
Denmark, Luxembourg and Estonia have been
excluded from the analysis as no data is available for
these countries. In this case, the maximum efficiency is
recorded for Bulgaria, Germany, Croatia, Lithuania,
Poland and Romania.
Tabelul 3/Table 3
Eficiena relativ a finanrii educaiei teriare obinut prin DEA, varianta cu dou variabile
input: CHELT i RSC / Relative efficiency of financing tertiary education, DEA method with two input
variables: CHELT and RSC
ara/ Eficien relativ/ ara/ Eficien relativ/
Country Relative efficiency Country Relative efficiency
BE
0.61 (0.21)
MA
0.98 (0.22)
108
BU
1 (1)
NE
0.59 (0.17)
CZ
0.51 (0.39)
AU
0.93 (0.17)
GE
1 (0.15)
PL
1 (1)
ara/ Eficien relativ/ ara/ Eficien relativ/

Country Relative efficiency Country Relative efficiency
SP
0.72 (0.30)
PO
0.89 (0.38)
FR
0.57 (0.23)
RO
1 (1)
CR
1 (0.52)
SL
0.68 (0.38)
IT
0.54 (0.30
SK
0.76 (0.56)
CY
0.67 (0.15)
FI
0.51 (0.19)
LA
0.89 (0.75)
SW
0.56 (0.15)
LI
1 (0.84)
UK
0.64 (0.28)
HU
0.65 (0.40)
* n parantez, sunt nscrise valorile eficienei obinute n modelul cu un singur input/
* the values of the efficiency for one variable input is included in ( )
Concluzii. n acest articol, ne-am propus s
estimm eficiena relativ a cheltuielilor cu educaia
teriar pentru rile membre UE, folosind metoda
non-parametric DEA. Privit din punct de vedere al
eficienei finanrii, aplicnd tehnica DEA la nivelul
rilor membre UE, am artat c frontiera de eficien
relativ este format din rile cu cele mai mici alocri
pentru educaia teriar: Romnia, Bulgaria, Polonia,
Lituania. Acest lucru nu trebuie privit ns separat de
alte aspecte, precum calitatea educaiei, nivelul
competenelor dobndite n timpul studiilor. Eficiena
mare a cheltuielilor cu educaia n aceste ri provine
din faptul c nivelul cheltuielilor este foarte mic, ceea
ce influeneaz, n mod direct, calitatea educaiei.
1.
2.
3.
4.
5.
6.
7.
8.
9.
Conclusions. This article aims to estimate the

relative efficiency of expenditures on tertiary education for
the EU member states by using the non-parametric DEA
method. Viewed in terms of the efficiency of financing
tertiary education, by using the DEA method, we showed
that the relative efficiency frontier is represented by those
countries having the lowest expenditures on tertiary
education, in particular Romania, Bulgaria, Poland and
Lithuania. Nevertheless, these results should be considered
together with other aspects such as the quality of education
and the competences acquired during the studies. Within
these countries, the high efficiency of expenditures on
education is a result of the low level of expenditures, which
has a direct influence the quality of education.
AIGNER, D.J., LOVELL, C.A.K. i SCHMIDT, P. (1977). Formulation and estimation of stochastic
frontier production functions. Journal of Econometrics, 6, pag. 2137, ISSN: 0304-4076.
CHARNES, A., COOPER, W.W. i RHODES, E. (1978), Measuring the Efficiency of Decision Making
Units, European Journal of Operational Research, Vol. 2, pag. 429444, ISSN: 0377-2217.
EMROUZNEJAD, A. PARKER, B. i TAVARES, G. (2008). Evaluation of research in efficiency and
productivity: A survey and analysis of the first 30 years of scholarly literature in DEA, Journal of SocioEconomics Planning Science, 42(3), pag. 151-157, ISSN: 0038-0121.
GREENE, W.H., (2005). Efficiency of Public Spending in Developing Countries: A Stochastic Frontier
Approach, World Bank, disponibil la
http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTDEBTDEPT/0,,contentMDK:20297571~m
enuPK:4876071~pagePK:64166689~piPK:64166646~theSitePK:469043,00.html, accesat la 1.05.2015.
GRIGOLI, F. (2012). Public Expenditure in the Slovak Republic: Composition and Technical Efficiency.
International Monetary Fund Working Paper 12/173.
GRIGOLI, F. (2014). A Hybrid Approach to Estimating the Efficiency of Public Spending on Education in
Emerging and Developing Economies, International Monetary Fund Working Paper 14/19.
GUPTA, S., VERHOEVEN, M. (2001). The Efficiency of Government Expenditure. Experiences from
Africa, Journal of Policy Modelling, Vol. 23, pag. 433467.
HERRERA, S., PANG, G. (2005). Efficiency of Public Spending in Developing Countries: An Efficiency
Frontier Approach, World Bank Policy Research Working Paper No. 3645 (Washington: World Bank).
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Functions: Primal and Dual Models, European Journal of Operational Research, 168(2), pag. 340344.
109
RECENZII / REVIEW
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Coli de tipar 14,0 . Coli editoriale 18,0.
Tirajul 80 ex.
Tipografia Departamentului Editorial-Poligrafic al ASEM
tel. 402-910
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prof. univ. dr. hab., academician al AM

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ACADEMY OF ECONOMIC STUDIES OF MOLDOVA

Year XXIII, nr.3 (93), September 2015

Editorial-Polygraphic Department of ASEM

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Professor, Dr. Hab., Academician

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ECONOMIE FUNDAMENTAL I APLICATIV

FINANE, CONTABILITATE I ANALIZA FINANCIAR

Estimarea eficienei cheltuielilor cu educaia teriar n rile UE

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FUNDAMENTAL AND APPLIED ECONOMICS

FINANE, ACOOUNTING AND FINANCIAL ANALYSIS

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DEZVOLTAREA STRATEGIC A STRATEGIC DEVELOPMENT OF

Professor, PhD Sergiu PETROVICI, UCCM

n lucrare, sunt elucidate specificul cercetrii

This paper considers the specifics of the

Introducere. Actualmente, organizaiile i

Introduction. Currently, the organizations

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atractive n domeniul atragerii investiiilor, n comparaie

investments in comparison with other economic

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2. Conceptul dezvoltrii strategice ale pieei

2. The concept of strategic development of the

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care va prevedea msuri complexe de reglementare a

development. Considering this aspect, it is necessary to

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indicelui complex sau general dup formula mediei

index has a quota, and after this the index will be

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depozite nu sunt suficiente, deoarece, ncepnd cu luna

Although most businesses said they used the pricing

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i lichidarea verigilor de intermediari.

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exist legturi directe, astfel, odat cu creterea

unde n exprim numrul de uniti de

Materials and methods. Currently, there is

where n - the number of observed units.

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independent numerical variable is written as:

a. Variabila Independent (constant): Capital Uman/ Predictors: (Constant), CU

determinaie multipl ajustat ( R ) este considerat